Cyprotex's positive progress

Cyprotex, a drug discovery technology and information company, has reported interim results for the six months ended 30 June 2004.

The highlights included turnover up by 140% to £886,000 (£369,000); gross profit 185% higher to £734,000 (£257,000); pre-tax losses were 22% lower at £832,000 (£1.08 million)

Another positive note was that Cyprotex's customer portfolio expanded to 25 major companies including revenue generating contracts with Roche, AstraZeneca, Altana and Solvay, and contractual discussions are well advanced with further blue-chip pharmaceutical and biotechnology companies.

Commenting on the results, Robert Atwater, Chairman of Cyprotex PLC, said: 'Cyprotex has established a unique position in the world of drug discovery, and with our innovative approach and focus on further improving operational efficiencies remaining the same, management is now confident of achieving the financial goals it set itself at the start of 2004.'