Omega Diagnostics plunges as order delays impact 2023 performance

Cambridge Nutritional Sciences

18/01/2023 10:40

** Shares of diagnostics testing firm Omega  ODX.L  down as
much as 23.3% at 3.01p 
    ** Co expects to report a lower-than-expected 2023 revenue,
as orders are delayed and will move into FY24  urn:newsml:reuters.com:*:nRSR0469Na
    ** Says it has insufficient manufacturing capacity in the
Littleport site to meet anticipated demand over the remainder of
the current financial year 
    ** Stock set for its worst day since Feb. 2022, if losses
hold 
    ** ODX says potential stockbuilding opportunities have been
limited in recent months
    ** "Whilst demand for Omega's food sensitivity tests remains
strong and the order book continues to grow, the company has
faced several headwinds that have impacted the ability to
fulfill orders ahead of 31 March 2023" - Co 
    ** ODX fell ~85% in 2022 
 (Reporting by Amna Karimi in Bengaluru)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226;))