SourceBio International PLC AGM Statement (7870O)
15 Junio 2022 - 1:00AM
UK Regulatory
TIDMSBI
RNS Number : 7870O
SourceBio International PLC
15 June 2022
SourceBio International plc
('SourceBio', the 'Company' or the 'Group')
AGM Statement
SourceBio International plc (AIM: SBI), a leading international
provider of integrated state-of-the-art laboratory services ,
provides an update to shareholders ahead of its Annual General
Meeting ('AGM') which will be held at 1 Orchard Place, Nottingham
Business Park, Nottingham, NG8 6PX and is accessible by means of
electronic facility, at midday today.
As previously announced, t he required number of Directors who
hold shares will be present, to form the necessary quorum.
Regrettably, other shareholders will not be permitted to attend the
meeting in person.
The Company is providing a facility for shareholders to listen
to the AGM either online or telephonically (in a non-voting
capacity) via the Investor Meet Company ('IMC') platform and there
will be an opportunity for shareholders to ask questions.
The Executive Chairman's AGM statement is set out below:
SourceBio has traded well since 31 December 2021 and the Board
is pleased with progress in the year-to-date. The Board is focussed
on utilising the Group's strong balance sheet and cash to
accelerate growth in its three core business units - Healthcare
Diagnostics, Genomics and Stability Storage - organically and by
earnings enhancing acquisitions.
Healthcare Diagnostics
The highlight of the period has been the exceptionally strong
market demand for our Cellular Pathology services within the
Healthcare Diagnostics business unit, which has been driven by the
continued shortage of pathologists coupled with the increasing
momentum of elective surgeries coming back. As expected, the timing
of the acquisition of LDPath on 8 March has proved to be very
favourable to assist the NHS and private healthcare providers in
managing this increasing workload of cases. The integration of
LDPath within SourceBio is progressing well with LDPath trading
ahead of plan. In addition, the over-performance of the
pre-existing Cellular Pathology business has enabled the combined
businesses to deliver record breaking volumes and revenues from
Cellular Pathology services.
The Group's primary challenges are now to deliver the further
capacity needed to meet the increasing demand for our Cellular
Pathology testing services and to capitalise on the increased
rollout of Digital Pathology services.
Genomics
The Genomics business unit has had a healthy start to the year
and now also includes the recently launched Precision Medicine
business line. As the business is expanding its testing services
offering, it is now working on a fit-out plan in larger premises in
Cambridge which it aims to move into during Q4 of the year. This
has been a critical investment to underpin future growth plans.
Stability Storage
The Stability Storage business unit's focus is to further grow
its highly profitable and recurring revenue Stability Storage
Services and Service & Validation business lines. The three
Stability Storage facilities have benefitted from investment and
expansion in recent years to support this expected growth. The
Group has ceased in-house manufacture of Stability Storage
equipment, which was immaterial in revenue terms and
unprofitable.
Group
We continue to invest organically and pursue strategically
relevant and earnings enhancing acquisitions to augment the growth
of these core business units and to further strengthen our
capabilities and offerings to customers.
The Group remains well positioned to support its customers and
their requirements and we remain optimistic for the remainder of
the year and beyond.
The Board would also like to thank shareholders for their
continued support and all our dedicated staff and suppliers for
their hard work and efforts.
We look forward to providing further updates on the Group's
trading and progress in due course.
Contacts:
SourceBio International plc www.sourcebiointernational.com
Jay LeCoque, Executive Chairman Via Walbrook PR
Tony Ratcliffe, Chief Financial Officer
Liberum (Nominated Advisor and Broker) Tel: 020 3100 2000
Richard Lindley / William Hall / Miquela
Bezuidenhoudt
Walbrook PR Limited Tel: 020 7933 8780 or sourcebio@walbrookpr.com
Paul McManus / Sam Allen Mob: 07980 541 893 / 07502
558 258
About SourceBio International plc
www.sourcebiointernational.com
SourceBio is a leading international provider of integrated
state-of-the-art laboratory services with clients in the
pharmaceutical, healthcare, clinical, drug development and life
sciences research industries, with a focus on improving patient
diagnosis, management and care. Group revenues are derived from
four business units:
-- Healthcare Diagnostics - histopathology cancer screening and clinical
diagnostic services for the NHS and private healthcare providers
across the UK and Ireland, including Digital Pathology
-- Genomics - DNA sequencing services and Precision Medicine offering
for pharmaceutical and biotechnology companies, academia, contract
research organisations (CROs) and other research groups in the UK,
Europe and North America
-------------------------------------------------------------------------
-- Stability Storage - shelf-life testing services and equipment service
and validation for pharmaceutical and biotechnology companies, contract
manufacturers and analytical testing companies from around the world
but primarily in the UK, Ireland and the USA
-------------------------------------------------------------------------
-- Infectious Disease Testing - a range of COVID-19 testing services
for commercial enterprises, private healthcare groups and the NHS,
including PCR testing under ISO 15189 accreditation.
-------------------------------------------------------------------------
More details on Group operations can be found here:
www.sourcebioscience.com
SourceBio International plc (SBI) is listed on the AIM market of
the London Stock Exchange.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGMUSRWRUUUNARR
(END) Dow Jones Newswires
June 15, 2022 02:00 ET (06:00 GMT)
Sourcebio (LSE:SBI)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
Sourcebio (LSE:SBI)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024
