Omega says profit and revenues have improved

Medical testing kit maker Omega Diagnostics said it expects that profits in its financial first half improved by at least 10 per cent.

The Alva-based firm said turnover for the six months to the end of September was expected to be £5.59m, slightly ahead of last year’s first-half result.

Profit before tax – before acquisition costs, share based payments, IFRS-related discount unwinds and amortisation of intangible assets – is expected to be at least 10 per cent ahead of the £380,000 earned in the previous half-year period.

The firm said: “The company has achieved growth in turnover in the food intolerance and allergy/autoimmune divisions with the drop off in infectious disease turnover primarily related to a problem with one UK-based customer not being able to meet its minimum contracted obligations, a situation which has since been resolved.

“Overall, trading in the first half is in line with management expectation. The ability to meet expectation in the second half will require further growth in the core business and a successful outcome to the CD4 technology transfer to enable a contribution to be made before the end of the financial year.”