Cellestis posts strong result
Wednesday, 26 August, 2009
Melbourne-based CSL spin-off, Cellestis, has demonstrated that it's not all bad news in today's economic climate by posting record sales and profits for the 2009 financial year.
Cellestis is best known for its tuberculosis (TB) diagnostic, QuantiFERON, which it markets here and overseas.
Revenues were up 83 per cent to $34.5 million, with a record profit of $8.2 million.
According to CEO, Dr Tony Radford, sales were strong in all markets, including the UK, Europe, Japan and the US. The profits will be reinvested in to sales and marketing as well as research and development of new products.
Cellestis's (ASX:CST) share price took a small dip after the announcement, dropping as much as 16 per cent at one point, but it bounced back to $3.65 at the opening of Wednesday's trading.
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