Fulcrum Pharma PLC
15 November 2007
FULCRUM PHARMA PLC
('the Company')
Notice of Results and trading update
Fulcrum Pharma plc (AIM: FUL), the drug development and regulatory services
company, announces that it expects to announce its final results for the year
ended 31 August 2007 on 22nd November 2007.
The Company is also pleased to provide a further trading update and guidance on
the results for the year ended 31 August 2007.
Group sales for the year ended 31 August 2007 are expected to be in line with
expectations as is the operating profitability of the Group, other than at the
recently acquired Unicus Regulatory Services Ltd ('Unicus').
As indicated in the Company's announcement of 15 August 2007, Unicus' sales in
the initial period after acquisition were below forecast and, whilst Unicus has
returned to profitability, the losses are greater than originally anticipated.
However a cash amount, reflecting these further losses, has been recovered from
the vendor as a refund of consideration pursuant to the terms of the Unicus sale
and purchase agreement.
As previously announced, the Group's Japanese subsidiary has a full order book
for the next two years based on current capacity and the strength of the Group's
US business has recently been confirmed by its return to profitability and the
opening of a new office in Ann Arbor, Michigan.
Jon Court, Chief Executive of Fulcrum Pharma, said: 'Going forward we remain
optimistic about the Group's performance based on a strong order book and
Unicus' return to profitability.'
For further information, please contact:
Fulcrum Pharma PLC
Jon Court, Chief Executive Tel: 0870 710 7152
Seymour Pierce
Jonathan Wright Tel: 0207 107 9000
About Fulcrum Pharma plc
Fulcrum Pharma plc is a drug development and regulatory services business that
provides global expertise to achieve drug development and regulatory approval
milestones. Fulcrum Pharma offers immediate access to a highly credible,
integrated development team that provides strategic and operational leadership
required to ensure that new drugs move smoothly from discovery research to
product approval
Fulcrum Pharma is listed on the AIM Market of the London Stock Exchange having
successfully floated in March 2000.
This information is provided by RNS
The company news service from the London Stock Exchange
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