Alltracel reports upbeat 2003 results

Irish pharmaceutical firm Alltracel has released much improved 2003 results with full year revenue up 61% to €1.01m.

The company, which is listed on the alternative investment market (AIM) in London, said it's loss for last year was €2.6m, compared to €3m in 2002.

During the year, the company said it's Seal-on product was successfully developed and introduced in the US, UK and Germany.

The company also signed up 25 new partners under its stop bleeding compound m-doc co-brand partnership programme.

Gerard Brandon, chief executive officer, commented: " 2003 was a good year for Alltracel, with significant breakthroughs in the company, in our laboratories and most importantly in the marketplace.

"Our strong and accelerating revenue growth is being fueled by consistent execution on our brand focused commercial business model for the consumer woundcare market."

Looking forward he said: "2004 has opened strongly and our revenue expectation is now in excess of €800,000 for the first quarter. We expect this momentum to continue throughout the year and are comfortable with analysts' estimates of €4.2m for the full year."

The Alltracel Group was established in 1996 and is headquartered in Dublin.

Research is carried out in the Czech Republic in addition to University College Dublin, and the Czech Academy of Sciences in Prague.