News
17-Oct-2007 - International science-based company LGC exceeds
£100m turnover
LGC’s international turnover at 28% -- in Germany, France, rest
of Europe and India
The Board of LGC Group Holdings plc has announced its annual
results, with turnover in 2006-07 exceeding £100m for the first
time. Assisted by acquisitions, this represents an increase of 18%
on last year’s Group results of £85.9m. The proportion of the
Group’s international turnover now stands at 28%, representing its
strong base in Germany, France and elsewhere in Europe and its
relationship with its joint venture in India.
However, with temporary disruptions in the UK forensic services
market for police forces, operating profit before exceptional items
and EBITDA at £6.5m and £12.5m respectively are less than reported
last year.
Commenting on this year’s results, Dr Richard Worswick, LGC’s
Deputy Chairman and Chief Executive, said: "We are delighted to
have achieved the milestone of being a £100m company, confirming
LGC’s position as a successful and highly respected international
group. Although profitability for this year has been eroded in the
forensics area of our business, I am convinced that there are major
opportunities for profitable growth in the future. This includes
opportunities to expand forensic provision in other European
countries, especially in Germany where LGC has won new work and is
building a reputation for quality and speed of forensic and
paternity DNA results.
"LGC Forensics assisted in the solving of thousands of
crimes. Among high profile cases, our forensic examinations led to
successful convictions for the tragic murder of Damilola
Taylor.
"Non-forensic work accounts for 60% of our business and has
developed strongly. In particular, LGC Standards, which brings
together our reference materials distribution, proficiency testing,
pharmaceutical reference materials production and analytical
quality training, has maintained its record of continuous growth
with new sales offices in Hungary, Ireland and North America. We
have expanded our pharmaceutical reference materials production
facilities in Luckenwalde, investing in new equipment, including an
NMR system, which complements our pharmaceutical and chemical
analytical capabilities at Runcorn."
Other notable highlights of the past year include:
- The award of a new BSE testing contract in a continuation of
our service to Defra in which LGC has tested in excess of 1.4
million brainstem samples since 2001.
- The acquisition of a paternity testing business, Labor für
Hämogenetik, based in Baden-Baden, Germany - and the recent move of
the Institut für Blutgruppenforschung LGC GmbH to the BIOcenter
Technologiepark Köln, the largest science park in Cologne.
- The launch of a gunshot discharge residues service using
scanning electron microscope (SEM) technology to detect inorganic
particles down to half a micron.
- A memorandum of understanding to collaborate on reference
materials and food analysis with the National Institute of
Metrology, China.
- An agreement to provide veterinary drugs testing for the
Government of Malta.
- Widespread recognition for our scientific capability under the
UK Department for Innovation, Universities and Skills (DIUS)
Chemical and Biological Measurement Programme. For example, LGC´s
Dr Heidi Goenaga Infante, in collaboration with Simon Joel and his
team at St Barts Hospital in London, published a paper in JAAS1 on
the effects of combining selenium compounds with cytotoxic drugs in
cancer therapy (also highlighted in Chemical Biology2 for
progression in the field of organoselenium speciation
analysis).
Printed copies of LGC’s Report and Accounts 2007 are available
from LGC, Queens Road, Teddington, Middlesex TW11 0LY, UK. Tel: +44
(0)20 8943 7000. Fax: +44(0)20 8943 2767.
Email: info@lgc.co.uk.
Online copies available at: www.lgc.co.uk/about_financial.asp.
References: (1) J. Anal. At. Spectrom., 2007, 22, 888. (2)
Chemical Biology, 2 August 2007, Issue 9, Research News.
Notes to Editors