Wounds begin to heal for animal research firm
Animal testing laboratory Huntingdon Life Sciences today said it was steadily recovering from a wave of animal rights protests earlier this year.
The company said orders were on the up with revenues in the second quarter of its financial year at their highest level for more than four years.
But the impact of the concerted campaign against Huntingdon left its scars on the company’s half-year figures.
Pre-tax losses for the six months to June 30 widened to £6.3 million against £3.9 million in the same period last year.
Despite a 3% rise in revenues, to £32.4 million, Huntingdon saw its public relations and staff costs rise in the wake of the animal rights protests.
Chairman Andrew Baker said the results were ‘‘in line with our expectations’’ and said he was heartened by backing from clients and Government.
The Government offered the company use of the Bank of England’s facilities in July after Huntingdon was deserted by its financial backers.
He added: ‘‘Our long term refinancing was completed in January and the animal rights campaign is now recognised as being much broader and of concern to all those involved in the vital endeavour of animal research.’’
The group said orders had gradually improved after it secured vital funding from US bank, Stephens of Little Rock, Arkansas, in January.
Orders in the first half were up 12% on the previous six months with much of the growth driven by UK laboratories, up 23%.
Huntingdon also has offices in Japan and Korea.
Revenues in the first quarter were £15.5 million, reflecting the impact of the protests on orders.
But Huntingdon said that revenues in the second quarter were 9% ahead of the previous three months at £16.9 million - 6% higher than the same quarter last year.
In January, the then home secretary Jack Straw earmarked an extra £1 million to help police protests outside Huntingdon’s research site in Cambridgeshire.
The centre is Europe’s largest pre-clinical contract research laboratory, testing washing powders and soaps on rats, cats, mice, dogs and baboons.
Agrochemcials and industrial pesticides used on farms are also tested on the site, where Huntingdon says 70,000 animals die each year.
The company’s shares were unchanged at 3½p today.
