Tecan reports growing sales in 2010

Tecan has published its financial report for the 2010 fiscal year, highlighting a solid year-on-year sales growth.

The life sciences company generated 370.5 million Swiss francs (247.79 million pounds) in sales from continuing operations – up by four percent compared to 2009 – and recorded a strong profit margin despite adverse currency trends.

During the year, the firm made significant progress in its efforts to reorient its strategic focus, selling off its sample management business unit and signing five new original equipment manufacturing (OEM) agreements.

The firm's operations have now been successfully consolidated into life science and partnering business units, a move that will help to underpin further growth moving into 2011.

Thomas Bachmann, chief executive officer of Tecan, said: "With the new organisation, which focuses on end-customers and OEM customers, we can further target our financial and personnel resources."

Next month, the company will hold its annual general meeting, during which it will vote on the proposed election of Dr Oliver Fetzer and Erik Wallden as new members of the board of directors.