LGC’s leadership confirms that trading is in line with expectations, with positive momentum expected to continue through the second half of the year to 31 March 2025
Key highlights for the six months to 30 September 2024
During the first six months of FY25, LGC experienced solid growth across all three business segments, despite a challenging global business environment.
Our growth strategy
LGC continued to implement an ambitious programme of activities to accelerate our Group’s growth and ensure continued success. This programme’s six strategic pillars are: High Performance, Growth Oriented, Scalable, Sustainable, Focused and Acquisitive.
High performance
In April 2024, LGC launched a new Diagnostics & Genomics (D&G) business unit and Innovation Hub, following a combination of the Group’s Clinical Diagnostics and Biosearch business units. This simplified business model will enable us to become more customer-centric, whilst driving effectiveness and efficiency in the coming years. Our new Innovation Hub combines scientific expertise across LGC, driving innovation, knowledge sharing and co-creation, as well as external licensing and acquisition opportunities. Together with our customers, this will enable us to deliver transformational science, with many recent client awards, recognising the value of partnering with LGC to find solutions that diagnose, treat, feed and protect the growing population.
Growth oriented
After several years of planning and progress, we near completion of key infrastructure projects in Toronto, Guildford and Berlin. In each case, these new sites will provide differentiated capabilities and capacity for our customers, as well as tremendous working environments for our colleagues. The first of our phased moves for Berlin and Toronto started at the end of 2024, with our phased move for Guildford scheduled to commence before the end of this financial year (FY25).
Scalable
Our strategic partnership with Tata Consulting Services (TCS), which began in January 2023, is now embedded within our business. This has enabled us to simplify and scale our IT, HR and Finance support functions and systems, delivering significant efficiency and effectiveness benefits across our support services. We also continued to invest in our IT infrastructure, applications environment and security.
Sustainable
Progress on our environmental, social and governance (ESG) agenda are central to our purpose – Science for a Safer World. In September, we published our latest ESG report for the year ending 31 March 2024, our fourth using the Global Reporting Initiative (GRI). This report is structured around our Purpose, People, Planet and Products framework and included the latest progress update against our ESG KPIs, which focus on renewable electricity; employee engagement; gender diversity; sustainable packaging; responsible procurement and our commitment to be carbon net zero by 2050.
Focused
LGC has thrived through building differentiated solutions in carefully identified life science tools market segments, where we can build sustainable competitive advantage. In each case, we aim to serve segments with strong, long-term growth potential, where we have established a solid presence or see a clear opportunity to build one. This focus and the recent simplification of our operating model enables us both to prioritise investments and provides capital to invest back into the rest of the Group.
Acquisitive
During the first half of FY25, LGC continued to seek acquisition opportunities, built on existing areas of strength in our portfolio, giving our customers a bigger choice of innovative and high-quality products. This culminated in the successful acquisition of DiaMex for our Diagnostics & Genomics business unit, announced by the Group in December 2024.
-Ends-
About LGC:
LGC is a global leader in life science tools, dedicated to partnering with customers to deliver solutions that diagnose, treat, feed, and protect our growing population. With over 180 years of scientific heritage, we collaborate with the scientific community to tackle some of the world’s most complex challenges, responding to global health crises, pioneering precision medicine, and enhancing the safety of food, medicines, and the environment.
Operating in 14 countries, LGC’s products and services are integral to industries that safeguard public health, food, water, and medicine. Our solutions help our diverse customer base—from pharmaceutical companies and diagnostic manufacturers to testing laboratories and food producers—maintain the highest standards of quality, safety, and compliance.
Together with our partners, we work toward a safer, healthier, and more sustainable world, advancing the science that protects people and the planet. For further information visit: www.lgcgroup.com