This week: Testing to the Max, Medicsight’s closer ‘eye’, Sarantel sends the right signals
Axis Shield (ASD 335p / £167.49m)
London listed innovative international in vitro diagnostics company last week issued an Interim Management Statement for the 19 week period ending 13 May 2011. Trading in 2011 started well, with revenues and profitability in line with market expectations. In the Point-of-Care Division both NycoCardand Afinion sales have benefited from a more typical flu season which has helped to increase CRP sales Axis-shield (LON:ASD) remains on track to launch a lipid panel on Afinion by the end of the year and believes this will significantly enhance system appeal. ASD’s franchise in diabetes HbA1c testing continues to produce increased revenues on Afinion and Nycocardat the point-of-care, and laboratory sales are expected to benefit from the launch of an Axis-Shield HbA1c test on Abbott’s ARCHITECTinstrument in the second half of the year. In the Laboratory Division, sales of anti-CCP test for early detection of rheumatoid arthritis have shown strong demand and the integration of the Catch homocysteine business is progressing ahead of schedule. New data published on the Active-B12 test have generated increased interest in this more efficient method to identify vitamin B12 deficiency. Revenues from the Direct Distribution Division are encouraging following the difficult market conditions experienced in 2010. Shareholders last week voted at the AGM on the Company’s proposed maiden dividend of 1p per share. Despite on-going currency headwinds, Axis-Shield has made an encouraging start to the current financial year. Furthermore, the Board remains confident about the trading outlook for the remainder of the year and believes that the results for the year ending 31 December 2011 will be in line with current market expectations.
Borders & Southern (LON:BOR) (BOR 56p / £240m)
Borders & Southern announced that it has assigned two of its option wells under contract for the drilling unit, Leiv Eiriksson, to Falklands Oil & Gas (FOGL). The two wells will follow on from BOR’s Darwin and Stebbing wells, which are anticipated to start drilling in December 2011.
Under the terms of the assignment, the companies will share mobilisation and demobilisation costs for the rig, along with ancillary equipment and services. Chief Executive Howard Obee commented: “We are delighted to have signed this agreement with FOGL. It will result in significant cost savings for…
