Tecan reports strong growth in 2011

Tecan has announced its financial results for the 2011 full-year period, which saw the company achieve strong year-on-year growth.

Sales for the year came to 377 million Swiss francs (262.54 million pounds), up by 1.7 percent in Swiss francs, with Tecan highlighting the fact that exchange rate fluctuations are masking 11.5 percent growth in local currency terms.

Growth was shown to be broad-based, encompassing both of Tecan's business segments, while its operating profit margin stood at 13.6 percent despite a rise in research and development spending and negative currency effects.

Over the last year, Tecan was also able to finalise its chief executive officer (CEO) succession plans by naming Dr David Martyr as the head of the company.

Following the departure of Thomas Bachmann last month, the new CEO will join Tecan as soon as his contractual obligations allow, but no later than October 8th 2012.

Acting CEO Gerard Vaillant said: "Tecan continues to be well on its way to a successful future. Thanks to the enduring positive business outlook, the board … proposes a substantial increase in the distribution to the shareholders for 2011."