Consulting and IP exploitation is profitable
A
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Edited by the Engineeringtalk editorial team
Sep 8, 2006
The Generics Group has announced continuing strong growth during the first half of 2006.
The Generics Group has announced continuing strong growth during the first half of 2006.
Overall revenue for the first six months to 30th June 2006 increased by 20% to GBP 13.0 million compared with the same period last year.
Generics' core consulting and IP exploitation business Scientific Generics contributed GBP 9.6 million fee income, up by 9%.
Consulting and IP exploitation generated an operating profit of GBP 0.2 million for the period.
The 20% growth in revenue is predominantly due to robust sales performance at Scientific Generics where revenue was GBP 11.9 million, this representing 92% of the Group's total revenue for the period.
The industrial and public sector markets were major contributors to this growth performance.
In line with revenue growth, the figure for permanent and temporary staff headcount rose 12%.
In February SGAI Tech, Scientific Generics' joint venture based in Hong Kong was named as the first winner of the Cathay Pacific Business Wings Award for innovation, creativity and dynamism.
The prospects for venture subsidiaries and investee companies remain good.
Intrasonics (approximately 90% owned), Generics' new venture in interactive media services, is engaged in ongoing discussions with potential broadcasting and advertising partners for involving its unique Sound Link and Sync system.
AtraNova (91% owned) has supplied initial water treatment subsystems against a GBP 0.4 million contract in Israel.
In August 2006, Generics' AIM listed spin-out CMR Fuel Cells announced that commercial relationships were progressing with consumer electronics OEMs and a core patent had been granted in China.
Meanwhile, during the first half of 2006, Sphere Medical Holding completed a GBP 6.2 million financing to strengthen its balance sheet and fund the development and production scale-up of the company's microchip-based medical products.
Generics' has maintained its equity position in Sphere at 10%.
Martin Frost, Generics' Managing Director, stated: "Over the course of the last 2-3 years we have restored Scientific Generics, our technology development consulting business, as the key asset within the business".
"These latest figures reflect the real progress we are making in establishing Scientific Generics as the technology development consulting business of choice for all of our stakeholders".
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