Omega Diagnostics releases positive guidance for FY 2010/11

Tuesday, Apr 19 2011 by
1

Omega Diagnostics, the Scotland based in-vitro diagnostics company, reported in their April update that they anticipate the group to show sales of £7.9 million for its fiscal year ended March 31st 2011 (FY2009/10: £6.2 million). Like for like sales (excluding Allergopharma sales) grew 12%. Adjusted pre-tax profits are expected to be in line with market expectations (its broker is forecasting PBT of £0.7 mllion for FY 2010/11).

Key appointments have been made to implement the automated instrumentation strategy following the acquisition of the IVD business from Allergopharma in December 2010. Mr. Ernst Mohler has been appointed as the Managing Director. Dr Edward Valente, a former researcher and developer at Axis-Shield and Abbott Diagnostics, has joined the company to oversee the allergy product development programme for both the IDS-iSYS instrument and the in-house microarray product. Jag Grewal has been chosen as the group sales and marketing director.

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Disclaimer:  

This note was prepared by LCF Research Limited using information provided by the subject company’s management or publically available news sources. No representations are made nor warranties given (express or implied) in relation to accuracy and completeness. This document is not an invitation to invest in the subject company and does not purport to contain all the necessary information that a prospective investor might require. LCF Research Limited recommends prospective investors to conduct their own thorough independent analysis of the subject company and the information contained in this note or referred to above.


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Omega Diagnostics Group PLC is a medical diagnostics company. The Company's segments are Allergy and Autoimmune; Food Intolerance; Infectious/Other, and Corporate. Its product categories include allergy, anemia, autoimmunity, fertility and growth hormones, food intolerance, infectious disease, inflammation, quality control, thyroid hormones and tumor markers. For allergy, it offers Allergodip, which is an enzyme immunoassay for the semi-quantitative determination of Specific immunoglobulin E (IgE) in serum or plasma. For anemia, it offers ATHOZYME Ferritin, which is an enzyme-immunoassay (ELISA) test for the detection and quantification of Ferritin in human serum. It offers a range of products for Rheumatoid Arthritis, Systemic Lupus Erythematosus (SLE), Antiphospholipid Syndrome (APS), Connective Tissue Disease, Gastrointestinal, and Vasculitis and Renal Disease. Its Fertility Hormones products include PATHOZYME-LH (Luteinizing Hormone), PATHOZYME-Prolactin and PATHOZYME-Oestradiol. more »

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