Biolitec reports encouraging nine-month fiscal data

Biolitec has published its financial report for the first nine months of 2012, during which it experienced continued year-on-year growth.

The company's sales for the first three quarters came to 29.4 million euros (23.24 million pounds), which is 3.3 million euros higher than the figure recorded at the corresponding point last year.

Steadily rising demand for Biolitec treatments such as LIFE, ELVeS and HeLP has contributed to this growth, while particularly noteworthy improvements were also observed in the Middle East and Asia regions.

The firm has also recently decided to relocate its registered office to Austria, a move that will involve its shares being exchanged for new shares in the Entry Standard of the Frankfurt Stock Exchange.

Dr Wolfgang Neuberger, chief executive officer of Biolitec, said: "The listing in the Entry Standard … requires less regulatory effort and saves costs for the company."

The company's current medium-target remains to continue enhancing its installed equipment base, while further expanding its capabilities in developing markets.