Source BioScience reports satisfaction with 2010 results

Source BioScience has published its pre-close update for the 2010 full-year, hailing a "solid trading performance" during the 12 months.

During the last year, the company has seen double-digit percentage sales growth in its LifeSciences and PharmaBiotech divisions, as well as a strong performance in its healthcare operations.

It has been able to achieve a number of important deals and acquisitions, including the extension of its distribution arrangement with Becton Dickinson and a new contract win with Research Councils UK, while also progressing with its integration of imaGenes.

The firm has also invested in the purchase and commissioning of the UK's first HiSeq 2000 platform, a move which has already yielded revenue improvements for the company.

Dr Nick Ash, Source BioScience's chief executive officer, said: "We are pleased with the progress that the company is making and our ongoing investment and acquisition programme reflect our continued confidence in the prospects for Source BioScience."

The preliminary data positions the company well to build on its 2009 performance, which saw the organisation achieve profitability for the first time ever.