Tecan states satisfaction with results for first half of 2014

Tecan has announced its financial results for the first half of 2014, highlighting its recent positive momentum and progress in terms of product and corporate development.

Its order entry total came to 196.6 million Swiss francs (129.75 million pounds), up by 6.8 percent on a local currency basis, though its sales figure dipped by 2.7 percent year-on-year to 172 million Swiss francs.

This drop was attributable to delays in order placement from two large customer accounts within its partnering business for unrelated reasons. Overall business trends were largely positive, with a particularly strong recovery achieved by its life sciences unit.

Important progress was recorded on key development programmes, including the launch of the next-generation liquid-handling platform Fluent.

Tecan chief executive officer David Martyr said: "Overall we finished the first half with the highest level in order backlog in at least the last five years."

Additionally, Tecan was able to successfully complete the acquisition of IBL International after the close of the reporting period – a deal that will allow the firm to offer integrated solutions for specialty diagnostics in future, supporting its evolution into a solutions-based business.