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For Immediate Release: 18 October 2007
The Medical House PLC
Preliminary results for the year ended 30 June 2007
The Medical House PLC (“TMH”), (AIM: MLH) the drug
delivery technology specialist, announces its preliminary results
for the year ended 30 June 2007.
Period Highlights:
- rug Delivery Division revenues increased significantly to
£1.7m (2006: £645,000)
- Operating Profit of £503,000 for Drug Delivery Division
(2006: Loss (£308,000))
- Signed £27m development, license and supply agreement
for ASI disposable autoinjector with major global pharmaceutical
company
- Additional £1m received in relation to contract with
European Government Agency to develop ASI autoinjector variant
for emergency application
Post-period Events:
- European CE-mark approval received for ASI device developed
for major global pharmaceutical company
- First European Patent granted for ASI autoinjector
- £800,000 cash received for the disposal of needle-free
insulin injector business
- Trading shows signs of recovery at Eurocut Orthopedic Division
- Change of year-end to 31 December
Ian Townsend, Chairman, The Medical House, said:
“Prospects for the Group are excellent and, as sales in
the Drug Delivery Division continue to grow, we are confident
that this will produce good growth in profits. The timing of those
profits will largely depend on product launches by our clients
and partners, together with the extent and pace of the progress
now being made at Eurocut."
For further information:
The Medical House PLC, tel: 0114 261 9011
Ian Townsend, Chairman
Buchanan Communications, tel: 020 7466 5000
Tim Anderson / Rebecca Skye Dietrich
NomuraCode Securities, tel: 020 7776 1200
Richard Potts
View/Download
the Annual Report 2007
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