Eye scanner maker dealt shares blow

Shares in one of Scotland’s fastest-growing technology companies were dealt a blow this morning when its interim profits missed analysts’ forecasts.

Optos, the Dunfermline-based maker of machines for scanning the inside of patients’ eyes, has spent more money than the City expected as it starts shipping its latest device.

The Daytona machine is smaller and cheaper than its current models and is expected to progressively boost the company’s profit margins.

Sales in the six months to 31 March jumped by 49 per cent to $86.2 million (£54.2m) as more customers bought rather than rented its devices.

But pre-tax profits came in at $6.9m, compared with City estimates of between $12m and $6.6m.

Analysts stuck by the company though, with Charles Weston from Numis Securities retaining his “buy” recommendation.

Weston added: “We expect to lower our profit before tax forecast to around $20m, from $27m, although we do not see this as material to the mid-term investment case that is based on rapid top-line growth.”