Instem plc Trading Update (2152V)
January 10 2013 - 2:00AM
UK Regulatory
TIDMINS
RNS Number : 2152V
Instem plc
10 January 2013
10 January 2013
Embargoed for 07:00
Instem plc
("Instem", the "Company" or the "Group")
Trading Update
Instem plc (AIM: INS), a leading provider of IT solutions to the
global early development healthcare market, is pleased to announce
that following the successful conclusion of several contract
negotiations it expects results for the year ended 31 December 2012
to be in-line with market forecasts.
License income was second-half weighted as in previous years
and, while first half revenue was marginally below that of the
comparable period in 2011, the Group expects to report revenue and
profit for 2012 in line with forecasts, due to a high number of
contracts being signed during the final quarter of the year.
The contracts signed in December 2012 were with some of the
world's most notable businesses in the pharmaceutical and research
industries, including, among others, a top 10 global
Biopharmaceutical company, several of the world's leading
preclinical Contract Research Organisations and JOINN, China's
largest provider of pre-clinical studies.
Instem's balance sheet remains strong with net cash of
approximately GBP2.2m at 31 December 2012 (31 December 2011:
GBP2.9m). Due to a number of significant contracts falling in the
final quarter of the year, the related cash inflow is now expected
in the first quarter of 2013.
Phil Reason, CEO of Instem plc, commented: "We are delighted to
have signed such high calibre contracts in the final quarter of
2012. It was especially pleasing that these contracts were
representative of the breadth of our innovative product set in its
entirety, including purchases of Provantis and Centrus alongside
our Standard for Exchange of Nonclinical Data (SEND) module and our
newly launched Logbook solution.
"Underlying demand for Instem solutions remains strong, despite
uncertainty remaining in the pharmaceutical market due to
structural changes. In the medium term, we expect these changes in
the market to drive the requirement for operational efficiencies
which our software facilitates. Therefore with our extensive
customer base, broad product set and market leading position, we
view the future with confidence."
Notice of Results
The Company expects to report its results for the year ended 31
December 2012 on 27 March 2013.
For further information, please contact:
Instem plc +44 (0) 1785 825 600
Phil Reason, CEO
Nigel Goldsmith, CFO
N+1 Singer (Nominated Adviser &
Broker) +44 (0) 20 7496 3000
Aubrey Powell
Joe Stroud
Newgate Threadneedle +44 (0) 20 7653 9850
Caroline Evans-Jones
Fiona Conroy
About Instem plc
Instem is a leading supplier of IT solutions to the early
development healthcare market. Instem's pre-clinical study
management solutions accelerate drug and chemical development by
increasing productivity, automating processes and enhancing
practices that lead to safer and more effective drugs.
Instem has over 130 customers in North America, Europe, China,
India and Japan, including 16 of the top 20 pharmaceutical and
biotech companies such as GlaxoSmithKline and AstraZeneca. The
Group employs over 110 people in seven offices in the US, UK, China
and India; and has a full service distributor in Japan. It is
estimated that approximately half of the world's pre-clinical drug
safety data has been collected over the last 20 years via Instem
software, making Instem an ideal partner to help unlock the
scientific/commercial value from these legacy repositories.
To learn more about Instem please visit the Company's website,
www.instem.com, or its investor centre
http://investors.instem.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTLLFVDLRIAIIV
Instem (LSE:INS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Instem (LSE:INS)
Historical Stock Chart
From Jul 2023 to Jul 2024