TTP Labtech reports strong growth in 2013

TTP Labtech has announced key financial performance figures for 2013, revealing strong double-digit growth as it continues to execute successfully on its business strategy.

The life science company saw a 43 percent increase in revenues and an associated rise in profits during 2013, with most of this growth being generated by its core offerings in the areas of cell imaging, liquid handling and sample management.

Its Mirrorball and ComPOUND products saw a particularly accelerated growth of more than 300 percent, while a focus on global distribution led to 24 percent of product sales being generated outside the US and Europe.

Drivers of growth in 2014 are expected to include the recent launch of the Dragonfly and Arktic brands and the introduction of a new online store, as well as the growing demand for more sophisticated assays.

Dr Jas Sanghera, managing director at TTP Labtech, said: "We have a team of passionate, talented and dedicated individuals behind each product and a collaborative relationship with our customers – something that differentiates us from other technology-based companies."

This comes after Dr Sanghera recently won the business leader of the year prize at the annual European Life Science Awards, in recognition of his company's recent success.