14th Apr 2014 07:23
LONDON (Alliance News) - Omega Diagnostics Group PLC Monday said it had met market expectations for its last financial year, with revenues and adjusted pretax profit ahead of the previous year.
The medical diagnostics company expects to post revenues of GBP11.6 million in the year to end-March, up from GBP11.3 million a year earlier, as a strong performance in its food intolerance division offset declines in its allergy and autoimmune division and its infectious disease division.
It expects pretax profit, excluding acquisition costs, share based payments and amortisation, to be around GBP1.1 million, up from GBP276,224 in the previous year.
Omega said it had seen a stronger second half of the year, which had allowed it to meet expectations before a contribution from its Visitect CD4 tests.
It began supplying its Visitect CD4 tests for infectious disease in India and Kenya for initial tests in February. Visitect CD4 is a disposable, semi-quantitative rapid test for the determination of CD4 counts in whole blood. CD4+ T-cells are destroyed by the HIV virus, so monitoring their count is important for the management of HIV patients being treated by antiretroviral drug therapies.
To date it has run 60 patient samples in India and a 200 patient sample evaluation in Kenya.
Omega has begun claim support studies in the UK to support regulatory requirements to get a CE mark for the test.
It has also continued to develop its 40 panel allergy tests for launch on Immunodiagnostic Systems Holdings PLC's IDS-iSYS automated analyser. So far the total number of allergens supported on the technology has risen to eight.
14 further allergens have completed optimisation, Omega said, and 11 allergens are currently undergoing optimisation.
Omega is developing products for use with the system through a distribution agreement with Immunodiagnostic.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
ODX.LIDH.L