13th Jul 2021 15:05
(Alliance News) - Omega Diagnostics Group PLC on Tuesday reported a narrowed loss, despite reporting an overall weaker performance for its recent financial year.
Shares in Omega were down 4.3% at 45.47 pence each in London on Tuesday afternoon.
Omega is a medical diagnostics company focused on CD4, infectious diseases and food sensitivity testing.
It posted revenue for the year ended March 31 of GBP8.7 million, an 11% fall from GBP9.8 million the previous year.
The pretax loss for the year was GBP3.5 million, narrowed from GBP8.3 million the year before.
"There remains considerable uncertainty around the world as countries ease or increase restrictions to manage the global COVID-19 pandemic. Challenges remain for much of our international customer base but the Board believes the Company has the expertise to meet these challenges and capitalise on opportunities as we have done over the past year," commented Non-executive Chair Simon Douglas.
Omega expect the recovery of the Health and Nutrition business to continue with growth in China and the USA anticipated over the next two years as their economies open up.
Also on Tuesday, Omega announced that Finance Director Kieron Harbinson will step down from his position on an undisclosed date, after 19 years in the company.
The company has since agreed to appoint Chris Lea as chief financial officer, with effect on August 30. Lea's most recent role was as CFO at IndigoVision Holdings PLC for five years since 2016.
By Amrit Sahota; [email protected]
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