Amadeusz Juskowiak

Fisons sees strong international growth in 1986

Fisons Plc FISNL said strong international growth had been the main feature of the groups 1986 progress with the pharmaceutical division reporting a 50 pct increase in US Sales during the period

The rise was due to a sustained marketing programme a larger sales force and the introduction of an aerosol form of its Intal antiasthma drug which pushed US Sales up 70 pct

The company was commenting on 1986 results which saw pretax profits rising to 851 mln stg from 723 mln in 1985 The result was in line with market forecasts but its shares nevertheless eased in a falling market to 634p at 0857 GMT from 643p

Fisons said the potential for future growth of Intral as well as its Opticrom and Nasalcrom products was clearly indicated by a strong 1986 performance

The scientific equipment business had raised the proportion of high technology products it manufactures and also raised its ability to generate higher margins The horticulture operations had demonstrated outstanding marketing ability Underlying cash flow from all three operations had been positive despite a full programme of capital investment

Action to protect the group against foreign currency movements resulted in a small net gain to profits