Tecan reports strong growth in 2017 business year

Tecan has announced strong financial results for its 2017 fiscal year, with sales and profits both rising.

The company generated CHF 548.4 million (GBP 414.56 million) in sales during the year, representing a year-on-year increase of eight percent, while full-year net profits were up by 22 percent to CHF 66.5 million.

During the year, Tecan was able to integrate the recently-acquired SPEware, now known as Tecan SP, while agreeing a deal to purchase Pulssar Technologies. It also launched the Resolvex product line for sample preparation for mass spectrometry, and signed new platform development projects with DiaSorin and Sysmex.

Strong growth in order entry for existing products 2017 was also observed, which bodes well for Tecan in 2018 as it continues with the rapid integration of the two companies it has acquired.

David Martyr, chief executive officer of Tecan, said: "Coupled with new products, both in the life science business and the partnering business, and the possibility of further acquisitions, Tecan is in a good position for further dynamic growth going forward."

Organic growth in the mid-single-digit percentage range is expected for Tecan in 2018.

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