RNS Number:5588H
Proventec PLC
13 November 2007
Press Release 13 November 2007
Proventec Plc
('Proventec' or 'the Group')
Interim Results for the six months ended 30 September 2007
Proventec Plc (AIM:PROV), a provider of specialist steam cleaning and coatings
technologies, today announces its Interim Results for the six months ended 30
September 2007.
Highlights
- Net revenue increased by 299% to £5.82 million (2006: £1.46 million)
- Pre-tax profit up 218% to £391,000 (2006: £123,000)
- Successful placement of 11,500,000 shares at 9 pence raising £1 million
- Acquisition completed of an 80% stake in Contico Manufacturing Limited
- University College London Hospital studies independently verified to eradicate community and
healthcare acquired infections
- Creation of Innoshield BV, a newly formed company within the Group, to market the Innoshield
coating
David Chestnutt, Chief Executive of Proventec Plc, commented: 'The Group has
made significant progress in the first half of this year. The acquisition of
Contico was an important milestone for Proventec and has significantly broadened
our product offering as well providing further routes to market and cross
selling opportunities for OspreyDeepClean. Our healthcare studies, carried out
in conjunction with the University College London Hospital, have been
independently verified, which is further endorsement that our dry steam cleaning
units can provide a higher standard of cleaning and hygiene. There have also
been key developments within the coatings business, where we have formed a new
company, Innoshield BV, to market our Innoshield coating for which has received
a number of enquiries. The Group has a number of exciting opportunities ahead
and I look forward to updating the market at the year end.'
For further information, please contact:
Proventec Plc
David Chestnutt, Chief Executive Tel: + 44 (0) 151 706 0626
dchestnutt@proventecplc.com www.proventecplc.com