(Alliance News) - Immunodiagnostic Systems Holdings PLC said Friday it narrowed its loss in the first half of its financial year, as revenue improvement from its Automated and Technology businesses more than offset a decline in the Manual business.
Immunodiagnostic Systems is a specialist producer of manual and automated diagnostic testing kits and instruments for the clinical and research markets.
Its pretax loss narrowed to GBP230,000 in the six months to September 30 from GBP523,000 a year before. Revenue rose 1.6% to GBP18.8 million from GBP18.5 million. However, on a constant currency, like-for-like basis, revenue was flat.
Revenue from the Automated business rose to GBP11.0 million from GBP10.8 million and from the Technology business to GBP2.1 million from GBP1.6 million. However, Manual business revenue fell to GBP5.7 million from GBP6.1 million. On a like-for-like basis, Automated revenue was flat, Technology was up 32% and Manual was down 8%.
The Manual business provides manual immunoassays for diagnostics, therapy monitoring, and research. The Automated business includes the company's fully-automated IDS-iSYS Multi- Discipline Automated System for conducting tests. The Technology business includes the company's IDS analyser technology.
Immunodiagnostic Systems was untraded on Friday in London at 273.00 pence.
By Tom Waite; thomaslwaite@alliancenews.com
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