Amphion Innovations plc (LSE: AMP) (‘Amphion’ or ‘the Company’), which builds shareholder value in high growth companies in the medical and technology sectors, today announces its audited preliminary results for year ended 31 December 2007.
Financial Highlights
- Strong growth in Net Asset Value per share up 29% to US $0.44 at 31 December 2007 (2006: US $0.34)
- Net Asset Value in Sterling grew 26% over the past year to 22p from 17.5p despite the 1.3% adverse move in the dollar/pound exchange rate
- Revenues grew by 132% (or 2.3x) to US $2.9 million (2006: US $1.2 million)
- Profit before tax increased by 50% to US $10.6 million (2006: US $7.0 million)
- Earnings per share of US $0.10 versus US $0.07 for 2006
- Year end cash balance of US $4.6 million
Operating Highlights
- Successfully raised over US $21 million of funding for 4 Partner Companies in 2007
- Added new Partner Company, PrivateMarkets Inc.
- Significant progress on further establishing two other ventures:
| -- MSA Holding B.S.C., a Gulf based joint venture, incorporated in Bahrain and fully capitalised | ||||||||
| -- DataTern Inc., being established to exploit IP opportunities within the Company's Partner Companies |
Richard C.E. Morgan, Amphion’s Chief Executive Officer said:
“Amphion continued to make excellent progress in 2007 which is reflected in the continued growth of our Partner Companies and our strong financial performance, including the ongoing rapid growth of our NAV per share, up 29% from 2006.
Our progress in 2007 confirms our confidence in the Amphion model. We enter 2008 with a strong group of Partner Companies and an exciting joint venture taking shape in the Gulf region. We are optimistic we will achieve at least one trade sale or IPO in 2008 and look forward to even further growth in NAV, thereby creating substantial shareholder value.”
Contacts:
Charlotte Morgan, 212-210-6224
