10 July 2012 – trading statement

The group has issued a positive trading statement for the year to 30 June with revenues being 9.3% ahead of the previous year, with strong growth being seen in both US and European Pharmaceuticals.  Pre-tax profits are expected to be in line with expectations and strong second half cash flow has led to a substantial improvement in net borrowings.  Full year results are expected to be announced on 4 September and the shares remain a LONG TERM BUY.