Biocompatibles International plc (BII.L) reported that revenue for 2009 rose 50% to £26.6 million from last year. On a constant currency basis, revenue was up 29% from prior year.
Looking ahead to fiscal 2010, the company expects to report consolidated revenue in the range of £28 million - £32 million. The Group also proposed to pay a dividend of 6.25 pence per share in May, an increase of 25%.
Ian Ardill, Finance Director of Biocompatibles, commented, "The Company had an excellent year in 2009. Our Oncology Products Division delivered strong sales growth and partnered with Eisai for the DC Bead in Japan. Elsewhere in the Company, payment of our maiden dividend and AstraZeneca's agreement to take the CM3 protein into the clinic were highlights. We look forward to maintaining our progress in 2010 and the confidence of the Board in the outlook for the Company is reflected in the proposed increase in the dividend."
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