Robotic Technology Systems PLC
Preliminary results for the year ended 31 December 2009
RTS is a high technology business supplying products and integrated systems to automate scientific and industrial processes. RTS today announces its preliminary results for the year ended 31 December 2009.
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2009
H1
£M
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2009
H2
£M
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2009
TOTAL
£M
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2008
TOTAL
£M
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Revenue
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5.5
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6.3
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11.8
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10.5
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Operating (loss)/profit before ‘exceptional’ items
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(0.2)
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0.0
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(0.2)*
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(0.7)
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‘Exceptional’ costs
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(0.1)
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(0.5)
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(0.6)**
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(5.6)
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Net finance income
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0.2
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0.3
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0.5*
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1.6
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Loss before taxation
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(0.1)
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(0.3)
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(0.4)
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(4.8)
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Profit/(loss) after taxation
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0.0
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0.0
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0.0
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(4.5)
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Profit/(Loss) per share
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0.0p
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0.0p
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0.0p
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(7.2)p
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Net cash
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3.0
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2.1
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2.1
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2.8
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* see notes 3 & 5 for the exchange movement effect
** See note 4 to the financial statements
KEY POINTS
- The Group’s operational improvement continued, led by the Life Science business, resulting in a return to profitability in H2
- US acquisition of Hatch Science LLC (“Hatch Science” or “Hatch”) in February 2010 strengthens Life Science’s presence in its key market
- The closing cash position of £2.1m (2008: £2.8m) does not contain £0.3m of restricted cash included in other receivables and is after the payment of an interim dividend of £0.6m in October 2009
- Gary Walsh is appointed to Chief Executive, with Chris Brown reverting to his former role as non-executive Chairman
- The operational performance is anticipated to continue to improve in 2010 although, due to project timing, this will be weighted towards the second half
Chris Brown, Chairman of RTS, said:
“We have continued to focus on cost reductions and developing our capabilities to fit the various niche markets we serve. This, in conjunction with the competitive sterling exchange rate, means our business is well positioned to continue operational improvement in 2010.
During the year we acquired the US company, Hatch Science, whose complementary products and skills will help us accelerate our expansion in this key market.
The Company has invested significantly in new products over the last few years and with its superior after-sales service is continuing to win business in a difficult market.”
30 March 2010
Enquiries:
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Robotic Technology Systems PLC
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Tel: 0161 777 2000
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Chris Brown, Chairman
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Jon Sharrock, Finance Director
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College Hill
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Tel: 020 7457 2020
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Jamie Ramsay
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Collins Stewart Europe Limited
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Tel: 020 7523 8350
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Stewart Wallace
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For further information,
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