GE acquisition drives down Amersham annual profit


GE acquisition drives down Amersham annual profit

Amersham, the manufacturer of lab equipment and imaging agents, said its 2003 net income had fallen by 35% to £192m.

The UK company is being bought by General Electric.

Sales were up slightly at £1.65m compared with £1.61m in 2002.

Excluding special charges, Amersham ended 2003 with income of £294m, compared with £301m in 2002.

The 2003 special charges were £44m for restructuring of the Discovery Systems unit, £8m in costs related to the GE acquisition, and £6m of other expenses.

Last October, General Electric offered £5.7bn for Amersham in an all-stock deal, which is expected to be finalised in the first half of this year. Amersham will then become GE Healthcare Technologies.

Amersham has three main business areas - medical diagnostics, discovery systems and protein separations.

Nancy Weil writes for IDG News Service

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