LONDON (Alliance News) - Immunodiagnostic Systems Holdings PLC said Thursday that its target to return to revenue growth in the current year is a "challenging but achievable task", as it posted first quarter revenue decline.
Revenue for the first quarter of the year to June 30, was down 4% at GBP9.3 million form the year before. On a like-for-like basis first quarter revenue decreased by 3%.
By division, the company's Automated Business saw like-for-like revenue down 8% to GBP5.4 million. Manual Business revenue dropped 7% to GBP3.0 million while Technology Business revenue increased 67% to GBP900,000.
Despite the drop in revenue, the company maintained its guidance of returning to growth within the end of the current financial year.
Immunodiagnostic shares were untraded at 235.00 pence on Thursday.
