The board will consider payment of dividends depending on future performance of the company. No dividends will be paid at this point.
Commentary on the results is provided in the Directors’ report, which form part of the half year report ended December 31, 2008.
CEO and Managing Director of LabTech Systems, Lusia Guthrie, said “Both revenue and post tax profit have substantially increased as compared to the same period last year. This is a reflection of the company’s concerted efforts with its partner bioMerieux, which led to the successful launch of the PREVI
Isola agar plate streaking machine into the global pathology markets in December 2008”.
LabTech Systems does not expect any further milestone payments from bioMerieux prior to June 30, 2009. A further licence milestone payment of EUR2 million is anticipated in 2010. The Company has reached the important step where it has now qualified to receive ongoing royalty payments on applicator sales.
