ProStrakan announces six-month interim results

ProStrakan has announced its six-month interim results for the period ended 30th June 2007, with the company reporting “significant progress” in its financial performance during this time.

In the first six months of the year, ProStrakan generated revenues of 20.9 million pounds, a 28 per cent increase on last year’s figure, driven by a 15 per cent increase in product sales to 18.5 million pounds.

During the period, the company reported a loss of 8.6 million pounds, a reduction of 43 per cent compared to a loss of 14.9 million for the first six months of 2006.

Dr Wilson Totten, chief executive of the firm, said: “ProStrakan has made very strong progress in the first half of 2007.

“So far this year we have launched two new products across Europe, filed one product for approval in both the US and Europe, forged a number of important commercial partnerships and secured the finances of the group through to profitability.”

He added that this progress has been accompanied by revenue growth and an increase in margins, while the firm is also aggressively pursuing avenues to enter the US market, a key strategic goal of the firm.

In April 2007, ProStrakan announced the appointment of Paul Garvey as chief financial officer of the company, with Mr Garvey replacing Adrian Gardner in the position.