Dako reports record revenues in 2009

Dako has hailed its fiscal performance during 2009 after posting its best ever annual financial results.

The science company’s revenue grew by eight per cent year-on-year from DKK 1.8 billion (219 million), its highest level ever, while earnings before interest, taxes, depreciation and amortisation were also at a record high.

It attributed the strength of this performance to its improved efficiency, as well as the securing of key development contracts with Genentech, OSI Pharmaceuticals and AstraZeneca.

Lars Holmkvist, chief executive officer of Dako, said the company’s performance was particularly impressive given the overall economic downturn.

He added: “Dako has focused on cost savings and efficiency-improving measures, which is why additional growth in sales will have an increased impact on our future earnings. I strongly believe we are well positioned for future growth.”

Dako’s agreement with AstraZeneca was secured this January, with the two firms set to work together on developing companion diagnostic tests for a number of AstraZeneca oncology projects.