PZ Cormay, listed supplier and distributor of diagnostic reagents and equipment, signalled that it might upgrade its profit forecast for 2010 in the fourth quarter, amid strong sales growth. CEO Tomasz Tuora revealed that the company was realising its sales targets even despite the fact that the launch of a new haematology analyser had to be postponed. It is now expected to take place in Q4, which should boost revenues further. In 2011 Cormay plans to sell 150 such devices, which is to help the company achieve 30% organic growth in sales, up from PLN 60m (€15.2m) projected for this year.
At the same time, Mr. Tuora reiterated that takeover talks with an unnamed US maker of protein-specific reagents were at a very advanced stage and should be completed before the end of the year. Coupled with organic growth, this should help the company achieve a 70% rise in revenues next year. PZ Cormay would fund the deal from a new share issue of up to PLN 24m (€6.1m), he indicated.
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