new products boost TTP Labtech’s sales.
TTP Labtech, a world leader in the design and development of automated instrumentation and consumables for life science applications, today reported record orders of £20.1 million for the year ending 31st March 2015.
Growth has been driven by the latest products, dragonfly® and arktic®, both of which have seen significant market uptake.
Market response to dragonfly, a liquid handler for simple, fast and accurate crystal screen optimization, has been extremely positive and has led to interest across a range of additional application areas including high throughput assay development and rapid low volume reagent dispensing.
Adoption of TTP Labtech’s arktic has accelerated within the biological sample management market and is fast becoming the choice for automated, high-density -80oC storage. As more laboratories standardize the storage of their biospecimen collections to protect sample integrity, automated stores become critical, not just for the pharma and biotech industry but also in smaller academic settings. arktic’s modular format provides scalability, making it an attractive investment for all size of laboratories.
On the back of significantly higher sales orders, revenue has also increased by 7.5% to £18.7 million, demonstrating strong performance across TTP Labtech’s liquid handling, imaging and sample storage product ranges. In addition the positive market uptake of arktic has resulted in a strong order book coming into this financial year.
During the year TTP Labtech further strengthened its global reach adding new distributors in Singapore, Taiwan and Qatar. In addition a new office has been opened in Delhi to provide local sales and support for an increasingly important Indian market.
“As well as maintaining our commitment to excellent customer and applications support for our existing product lines, we are driven by the desire to bring new innovative products to market. Close customer relationships and ongoing collaborations are key to our R&D success and ongoing growth. The potential of this approach is demonstrated by the number of new products we have in development, some of which will be launched in 2016/2017, making for a very exciting year ahead,” commented David Newble, newly appointed managing director of TTP Labtech.