Omega Diagnostics improves H1 pretax profit

Omega Diagnostics has improved its H1 pretax profit to £305,447, from £177,360. Revenue was £6.8m, from £6.1m.

Chair David Evans commented:

"We have made good progress on our key Visitect CD4 development project and we have also covered much ground in bringing our Pune facility to a state of operational readiness and these activities are expected to contribute to growth in shareholder value over the shorter term.

"We have recently been approached by our Allersys licensor (Immunodiagnostic Systems Holdings plc "IDS") with a view to changing the nature of the commercial relationship with the Company. This could extend to the acquisition of all or part of our Allergy Business.

"We will update the market as soon as we have a clearer understanding of IDS' intentions but as things stand, the outlook for the rest of the financial year is encouraging within our core business with revenue and adjusted profit before tax expected to be at the higher end of market expectation due, in part, to favourable currency movements."