|[June 23, 2014]
TTP Labtech Reports a 43% Increase in Revenues for Last Fiscal Year
MELBOURN, England --(Business Wire)--
TTP Labtech, an employee-owned life science company based near
Cambridge, UK, has reported an impressive 43% increase in revenues and
an associated increase in profits over 2013.
Most of this growth is based on the strength of TTP Labtech's core
products in the areas of cell imaging, liquid handling and sample
management. In particular mirrorball® and comPOUND®
saw an accelerated growth of over 300%.
"We have a team of passionate, talented and dedicated individuals behind
each product and a collaborative relationship with our customers -
something that differentiates us from other technology-based companies",
remarked Dr Jas Sanghera, managing director at TTP Labtech.
A focus on global distribution has led to 24% of product sales outside
of the US and Europe, with a significant proportion of this in Asia. TTP
Labtech is now in a strong position to continue growing the business. Dr
Sanghera's strategy to maintain the focus on product quality, even in a
challenging economic environment, has proved to be successful.
Continued success also requires maintaining an innovative culture and a
willingness to adapt to market changes. The current trend in assay
development is a move towards greater levels of both accuracy and
precision, while making use of smaller volumes at an increased
throughput - a challenge which can only be assured by automated
instrumentation. Many of TTP Labtech's products, in particular the
mosquito range, are well positioned to rise to this challenge and
provide real value to customers in that field.
Dr Sangera continued, "We predict strong growth for the next year from
our most recently launched products (dragonfly® and arktic®).
In addition we have opened a new online store for consumables that we
expect will make a significant contribution to the revenue next year.
Innovation, which is so important for the company, is driven by our
strong focus on our customers and we will continue to develop these
relationships in the future".
About TTP Labtech - natural innovators
From its global headquarters based near Cambridge, UK, TTP Labtech is an
employee owned company that creates, designs and manufactures robust and
innovative automated laboratory equipment for both the academic and
industrial sectors of pharmaceutical and biotech research.
TTP Labtech is part of TTP Group plc which originated from The
Technology Partnership (TTP), Europe's leading independent centre for
innovation. For 13 years TTP Labtech has successfully combined cutting
edge science with first rate engineering. Innovation is at the core of
the company and is illustrated by the passion and expertise of its
personnel and evidenced by the novel products and technologies that are
brought to market.
TTP Labtech provides state-of-the-art solutions developed for specific
product areas: cell-based screening (acumen®, mirrorball®);
sample management (comPOUND®,
arktic®, lab2lab) and low volume liquid handling (mosquito®,
For further information please visit www.ttplabtech.com
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and Android (News - Alert).
2014 company confidential
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