News
30-Sept-2005 - LGC announces record turnover through its ´buy
and build´ strategy supported by Legal & General Ventures
LGC focuses investment on growth in the UK, Europe and India
with plans in place to expand its operational activity in forensic
and pharmaceutical services
LGC, Europe’s leading provider of analytical and diagnostic
services and reference standards, has published annual results for
the year to March 2005 in which it is announced that all areas of
the business have grown organically and have contributed to a
record annual turnover of £64m. These are the first results
following Legal & General Ventures’ (LGV) replacement of 3i as
LGC’s private equity investor in April 2004.
Brian Phillips of LGV, and a non-executive director of LGC,
said: "LGC is proving its potential to grow, both organically
and by acquisition. The current markets for analytical and
diagnostic services in which LGC operates are providing favourable
opportunities for the Group to increase its capacity and the scope
of its services in the UK, Europe and in India. I am delighted by
LGC’s results in the first year and am pleased to be able to
support the company´s ´buy and build´ strategy."
Dr Nigel Law, LGC’s Chief Executive, said: "LGC is expanding
rapidly. We have recently acquired Forensic Alliance Limited, the
UK’s largest private sector provider of forensic science services
to investigators and the courts. Internationally, we are in the
process of constructing a new laboratory in India so that we can
build on the chemical synthesis capability currently provided to
the pharmaceutical industry through our operations in Luckenwalde,
Germany.
"Alongside these more commercial developments, I am keen to
strengthen LGC’s role as the National Measurement Institute for
chemical and biochemical analysis. This was enhanced during the
year by our involvement in the new DTI programme - Measurement for
Emerging Technologies - under the medical technologies theme. We
also received DTI approval for a new three-year programme
supporting the Government Chemist function."
Printed copies of LGC’s Report and Accounts 2005 are available
from LGC, Queens Road, Teddington, Middlesex TW11 0LY. Tel: 020
8943 7000. Fax: 020 8943 2767. Email: info@lgc.co.uk or go to http://www.lgc.co.uk/lgc_about_financial_2004.asp
.
Notes to Editors