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Baxter Healthcare financial report

9th October 2008

Directors’ Report
PRINCIPAL ACTIVITIES

The company’s principal activity is the manufacture, sale and distribution of a range of hospital and homecare products. This includes the distribution of products as a commissionaire for Baxter Healthcare Pharmaceutical Limited for which it earns commission.

This business commenced in November 2002 for bioscience products and was extended in January 2007 to cover medication delivery, renal and transfusion therapy products.

BUSINESS REVIEW
The underlying turnover has continued to grow at a steady rate. The company and its subsidiaries are expected to continue the same line of business in the coming year.

RESULTS
Turnover for the 2007 fiscal year was 107.488 million pounds, down from 211.68 million pounds – a fall of 49 per cent.

Profit for the year, after taxation, amounted to 12.984 million pounds, compared to 16.524 million in 2006 – a decrease of 21 per cent.

Turnover sourced from the UK and the Republic of Ireland fell 70 per cent from 187.4 million pounds to 54.3 million million pounds.

Other operating income
As per the directors report commissions on sales of other companies products increased from 20.4 million pounds to 69.3 million pounds.

Employees
OFFICERS OF THE COMPANY
Company secretary: ME Godden
Directors: GE Braham and HP Keenan

Total employment costs decreased from 39.7 million pounds to 38.9 million pounds in 2007

Admin and Support staff fell 20 per cent from 208 to 167
Production staff rose six per cent from 431 to 458
Sales and Marketing staff fell 20 per cent from 442 to 352
Warehouse and Distribution staff fell 12 per cent from 95 to 84

Zenopa sourced data on Baxter Healthcare:
Baxter is a global leader in technologies related to the blood and circulatory system. The company’s blood therapies businesses produce products that collect, separate and store blood, as well as therapeutic proteins derived from blood and their genetically engineered equivalents. Its renal products cleanse the blood. Intravenous (IV) products infuse drugs and other solutions into the blood.

Baxter Healthcare supplies thousands of medical products and services to almost every hospital in the UK, as well as working on supporting more and more patients in the community. Over 1,350 people are employed in the UK to combine a virtually unparalleled ability to meet the demand of today and tomorrow’s healthcare needs.

Baxter has a purpose designed manufacturing facility in Thetford, Norfolk, employing around 700 people, making it one of the largest employers in the area. The plant manufactures intravenous fluids and urological solutions and exports from its manufacturing plant here to many countries to help save lives world-wide. Baxter also has a large National Distribution Centre in Northampton and its UK headquarters are in Compton, near Newbury, Berkshire.

Through the investment in warehousing systems using state of the art technology to provide high service levels, Baxter have direct EDI ordering facilities that process orders automatically, with a same-day delivery emergency service, and all products are batch tracked from their origin.

Baxter’s operations are divided into five main divisions: Medication Delivery, BioScience, Transfusion Therapies, Renal and Oncology.

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