Syaqua on track - results in line with expectations
Monday, February 14, 2005
Animal genetics and biotech company Sygen International plc announced group profit before tax, amortisation and exceptional items for the first half of the financial year ending 30th June 2005 was up 23% to £4.8 million at constant exchange rates. Profit before tax and exceptional items was £3.7 million, reflecting growth in the core PIC business and continued investment in Sygen's aquaculture division, SyAqua.
SyAqua had an operating loss of £0.9 million up from £0.5 million in the same period in 2004. The company says the increase in the operating loss in the first half of the year was in line with overall expectations. Planned expansion and investment in
SyAqua now has functional genetic improvement programs in all three SyAqua businesses. The business in
As was the case last year, the majority of sales in the shrimp businesses are expected to occur during the second half of Sygen's financial year. This is due to the seasonal nature of shrimp production and the lag inherent in any start-up business, like
SyAqua, a division of Sygen was established in 2002 as Sygen's aquaculture division and has its lead research laboratory in
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