Axis-Shield announces sales figures rising on back of blood-test products

Published on Thursday 14 May 2009 21:22

DUNDEE-BASED medical diagnostics firm Axis-Shield yesterday reported that revenues for the 18 weeks to the end of April were in line with its expectations.

In a trading update issued at its annual general meeting, the firm said sales of two main "point-of-care" blood testing products, Afinion and NycoCard, were progressing well.

It added that its equipment installed in doctors' surgeries – from which it makes revenue selling cartridges for the tests – was helping it to increase sales in line with forecasts.

Axis-Shield also said it expected the recent acquisition of the German distribution rights for its two main products would further add to sales in 2009 and beyond.

Chairman Nigel Keen said: "Our balance sheet remains strong and there have been no significant changes in the financial position of the company since the recent publication of the 2008 report and accounts."

He added: "I am confident that Axis-Shield will continue to deliver on its commercial objectives, despite the uncertain economic climate, and I look forward to reporting further progress at the time of the interim results."

Non-executive director Erik Hornnaess stood down at yesterday's AGM.

The firm reported a 27.8 per cent rise in 2008 revenues to 85.3 million.