Optos eyes results ahead of City hopes

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Eyecare specialist Optos today said its annual results should come in ahead of City forecasts after winning a record number of new customers.

The Dunfermline-based firm, which makes retinal imaging products for optometrists, also said sales and adjusted pre-tax profits for the year to 30 September will be “slightly above market consensus” thanks to the early renewal of a US corporate customer that has upgraded its stores to Optos’ Daytona devices.

During the year added 1,500 customers, a record performance for the company, growing its installed base by 24 per cent. Net debt for the year expected to have reduced to $12 million (£7.4m), down from $39m a year ago.

Chief executive Roy Davis said: “We continued to see strong demand for our products during the year, particularly Daytona. This has translated into another record year of placements with new customers.

“It has also resulted in a robust cash performance that has allowed us to reduce net debt significantly. Our pipeline of new products is progressing to plan and we remain excited about the future.”