TechMARK movers: Total Systems posts profit

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Date: Tuesday 01 Jul 2008

LONDON (ShareCast) - Financial software group Total Systems swung to a full-year pre-tax profit of £430,590 compared with a loss of £530,006 last year and said current trading is running at a satisfactory level. Revenue rose to £4.05m in the year ended 31 March from £ 3.36m previously.

“At a time of considerable economic and financial uncertainty your company is in good shape with current trading running at a satisfactory level. Although it is difficult to forecast in the present climate, on current trends we anticipate turnover for the year ending 31 March 2009 will be similar to the year ended 31 March 2008,” said chairman Terence Bourne.

Gene therapy group Oxford Biomedica said Bavarian Nordic has filed a patent infringement action in the US related to Oxford's Modified Vaccinia Ankara (MVA) technology.

The Danish group claims that the MVA vector system, employed in Oxford BioMedica's therapeutic cancer vaccine, TroVax, infringes its US patents.

“Oxford BioMedica views Bavarian Nordic's US litigation as being without merit. Oxford BioMedica is confident in its position, is fully prepared to oppose this action vigorously, and will seek all appropriate relief against Bavarian Nordic,” said the group.

Peter Nolan, Oxford BioMedica's senior vice president, commercial development, said: “We believe that Bavarian Nordic's claim is unwarranted and we have a high degree of confidence that this action will prove fruitless for Bavarian Nordic.”


FTSE TechMARK - Risers
Total Systems (TTS) 34.00p +9.68%
Innovation Group (TIG) 16.25p +4.84%
Plasmon (PLM) 4.70p +4.44%
Dialight (DIA) 142.75p +4.39%
Ark Therapeutics (AKT) 56.25p +2.74%
Trafficmaster (TFC) 32.00p +2.40%
Protherics (PTI) 31.75p +1.60%
Corin Group (CRG) 156.25p +1.30%
Kofax (KFX) 192.00p +1.19%
Fidessa (FDSA) 867.00p +0.81%

FTSE TechMARK - Fallers
Inion (IIN) 10.00p -13.04%
Oxford Biomedica (OXB) 20.50p -10.87%
Gresham Computing (GHT) 54.00p -6.09%
Vernalis (VER) 4.90p -5.41%
Xaar (XAR) 195.00p -4.88%
NCC Group (NCC) 395.00p -4.82%
BTG (BGC) 178.25p -4.17%
Torotrak (TRK) 18.00p -4.00%
Alphameric (ALM) 19.50p -3.70%
Vislink (VLK) 26.50p -3.64%

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