GeneScan Europe AG increases revenues by 60% in first nine months of 2001
GeneScan Europe AG (GEP, WKN: 586150) achieved revenues of T€ 12,242 in the first nine months of 2001, an increase of approximately 60% compared to T€ 7,861 for the same period of the previous year. Continued growth in all products and services has had a positive effect on margin development, with gross margin improved by 3 percentage points to 41% in the third quarter of 2001.
GeneScan Europe AG's business development was hindered in the third quarter of this business year by a general economic downturn, increased competition in the agro-food industry, as well as by supplier bottlenecks for analysis devices. Business development in the third quarter was below expectations at T€ 4,062 (previous year: T€ 3.055), but is somewhat acceptable when viewed in light of challenging market conditions. The agro-food division developed particularly well, achieving approximately T€ 8,716 of total revenues (previous year T€ 6,015) in the first nine months of this year.
The GeneScan Group's foreign revenue has developed positively again. The company achieved T€ 7,994 (two-thirds of total revenues) in revenues internationally (previous year: T€ 4,417, or 56%). Business development, particularly in the United States, benefited from consumers' increased demand for transparency regarding the use of genetically-modified organisms (GMO) in food and feed products.
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