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Home Industry News Astek announces return to AIM

Astek announces return to AIM

27th March 2008

Dental supplier the Astek Group has declared that it has ceased the acquisition talks it first announced in October last year and has restored its shares to the Alternative Investment Market.

It claimed that operating results for the second half to the end of March could be slightly better than those of the previous six months.

However, Astek warned that the fees incurred through the aborted acquisition could drag down the overall results.

“[Astek] continues to build on its position as a leading provider of innovative products to the worldwide dental industry, developing its product portfolio and expanding into new markets via worldwide distribution agreements,” the business reported.

At the end of September 2007, the dental supplies firm announced revenues of just under £505,000.

This was lower than the previous year, which Astek believed was down to lower than anticipated sales of its product Pro-Tip Plus.

However, the company reported that many leading dental schools have begun to use its Pro-Tip technology, allowing trainee dentists to form brand allegiances at an early point in their careers.

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