Biohit delivers interim growth report for 2011

Biohit has detailed its improved business performance in 2011 in its interim financial statement for the year to date.

The life science company's net sales total for the first nine months of the year came to 30.3 million euros (26.5 million pounds), representing a year-on-year rise of 4.8 percent, while earnings and profitability also rose.

Jussi Heinio, president and chief executive officer of the firm, highlighted Europe, Russia and China as areas that delivered fairly strong growth, with mechanical pipettes seeing a nine percent sales increase.

He added that the firm was able to achieve its primary goal for the period, namely securing profitable growth, with good results delivered via cost reductions and streamlining.

"At the end of the third quarter, our operating profit had improved by as much as 150 percent on the previous year," Mr Heinio said.

The company was also able to arrange a directed share issue to Sartorius Lab Holding earlier this year, a move that will allow it to take advantage of the latter firm's global infrastructure.