* H1 underlying pretax profit 2.1 million euros
* Says well-placed for growth
* Expects 800,000 euros in costs from dual listing
* Could issue shares after dual listing, eyes M&A (Adds CFO comment, shares, detail)
By Aaron Gray-Block
AMSTERDAM, Sept 15 (Reuters) - Dutch-based stem-cell preservation firm Cryo-Save said it was eyeing acquisitions and it had various funding methods, as it reported a 17 percent rise in underlying first-half pretax profit.
The company wants to expand into Russia, Turkey and South America through acquisitions, partnerships or an expansion of its own operations, Chief Financial Officer Arnoud van Tulder told Reuters in an interview on Tuesday.
"Acquisitions remain on our list. We are always looking," Van Tulder said, adding that the company could finance acquisitions with its own funds, loans or via a share issue.
The company said earlier this month it planned to list on Euronext Amsterdam in the fourth quarter to increase its visibility and share liquidity, and that it would review the need to maintain its AIM listing in early 2010.
"The (Euronext) listing should confirm to investors that all our processes are in order and that we have good internal corporate governance controls," Van Tulder said. "It should help us to find investors."
While the company is still weighing the pros and cons of its AIM listing, Cryo-Save might look to issue shares after its listing on Euronext as it seeks further international expansion.
"There is no immediate plan, but a share issue is certainly a possibility. That is one of the reasons why we are going to be listed on Euronext," Van Tulder said, but added a share issue could also be conducted via its AIM listing.
It expects 800,000 euros in one-off costs from the dual listing.
HIGHER PRICES BOOST RESULTS
Cryo-Save reported underlying profit before tax of 2.1 million euros ($3.1 million), up 17 percent from 1.8 million euros in the same period last year. Revenues grew 52 percent to 18.6 million euros, supported by volume growth, higher prices and acquisitions.
Its shares were up 4.4 percent in London at 0.865 pence at 0739 GMT.
"With the second quarter ... showing our strongest sample storage numbers to date, our widening international spread of businesses, new products coming available plus our high operational gearing, means that we are well placed," Chief Executive Marc Waeterschoot said in a statement on Tuesday.
Cryo-Save, which calls itself the leading stem-cell company in Europe and competes with Vita 34 in Germany, said it had a net cash position of 4.5 million euros on June 30, unchanged from Dec. 31.
Cryo-Save works by freezing stem cells of its customers' children at birth for their future use in the treatment of disease. Stem cells can replicate and differentiate into a wide variety of cells and although treatments are still in development, they are already used in various therapies.
It is targeting 50 million euros in sales in 2012, up from 29.5 million in 2008, Van Tulder said. (Editing by Dan Lalor and Rupert Winchester) ($1 = 0.6833 euro)