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About LGC

Financial results

 

Download Annual review 2011 (3.61 mb),  Download Report & Accounts 2011  (743 kb)

Financial highlights 2010-2011

LGC performed well in the year to 31 March 2011 with turnover increasing to £130.6m compared with £130.2m in 2010, despite extremely challenging market and overall economic conditions. All of the Group’s divisions saw growth in turnover other than LGC Forensics where reduced submissions and casework, principally as a result of pressure on public spending, impacted results. At a profitability level, focus on costs helped minimise the adverse impact of reduced LGC Forensics’ turnover. EBITDA (earnings before interest, taxation, depreciation and amortisation) before exceptional items was £20.8m for the 12 months to March 2011, only slightly down on 2010 (£21.8m). The Group’s cash management was also strong, with positive operating cash flow in the year of £15.1m.

Investment

In the year to 31 March 2011 the Group continued to invest in existing businesses, new technology and new ventures. Overall capital expenditure for the year was £7.4m. This includes significant expenditure related to a state-of-the-art proficiency testing facility in Bury. In addition, good progress was made in the roll-out of the Group’s casework Laboratory Information Management System, C-LIMS, with all of the LGC Forensics business expected to be live on the new system by the end of 2011-12. We also expanded our footprint through acquisitions and the opening of new sales offices. We acquired Cardiff Bioanalytical Services Limited (CBSL) in November 2010 and HFL Sports Science and HFL Sports Science Inc (together HFL) in December 2010. CBSL further expands the Group’s range of proficiency testing schemes and HFL provides LGC with exciting opportunities in the growing market of doping control in sports.

Locations 

As part of the Company's commitment to improving customer services and support internationally LGC opened a branch office in Dubai, United Arab Emirates and appointed a sales representative in Sao Paolo, Brazil, during the year.

Highlights of the past year include:

• LGC Standards opens new state-of-the-art facility in Bury
• LGC Standards offers world’s first certified reference nanomaterial
• LGC’s HyBeacons^® technology is used in Europe’s first large-scale anticoagulation drug trial
• LGC acquires HFL Sport Science
• LGC Forensics provides key evidence in double jeopardy case
• LGC Standards continues global expansion with first office in Dubai
• LGC partners with science leaders to develop rapid in-clinic STI detection kits
• LGC opens new state-of-the-art office in Twickenham
• LGC Standards extends portfolio with Cardiff Bioanalytical Services acquisition
• LGC Forensics awarded East Midlands Region police forensic tender
• LGC applies novel technology to improve nanofood research
• LGC Genomics acquires the new Illumina HiSeq 2000
• LGC and CAS announce plans to collaborate on distribution of Chinese industrial reference materials and food safety testing services in China
• Fighting the counterfeit drug war – LGC detects fake packaging using mass spectrometry
• LGC Forensics leads success in the DNA analysis of Fromelles war grave samples
• LGC Standards signs up lab number 2,000 to its food microbiology proficiency testing scheme
• LGC Standards characterises reference material for new legal high - MDAI
• Investing for the future - LGC merges its forensics operations in the North West
• LGC introduces its new LGC Genomics division

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