LONDON (Alliance News) - Immunodiagnostic Systems Holdings PLC Monday warned that it was currently seeing a low level of placements and an acceleration in the decline in its manual revenue, and delivering full year revenue in line with, or slightly ahead of, last year would depend on its success in garnering those in the remainder of the year.
In a statement ahead of its annual general meeting, the supplier of specialist immunoassay kits and automated immunoanalyser technologies for use in research, medical and pharmaceutical applications also said that exchange rate movements were also going against it. However, it expects revenue to be weighted to the second half of the current financial year to end-March.
"The group has made a satisfactory start to this financial year. Financial performance to date has been in line with management expectations, in part due to the receipt of a milestone license payment earlier in the year than anticipated," Chairman Anthony Martin said in the statement.
Its shares were down 6.7% at 487.65 pence early Monday, one of the biggest declines on the AIM All-Share index.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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