IDH.L Share News (IDH)

Immunodiagnostic Systems was a big faller on Monday after warning that revenues will be below current expectations after experiencing continued low levels of placements, an acceleration in the decline in manual revenues and currency headwinds.The group predicts its revenues for the year ending 31 March will be in the range of £45m and £47m, including the effects on currencies of £1.5m compared to the prior year.The group said: "We continue to work on a number of significant commercial opportunities that would provide upside to the revenue range indicated above. However, due to the uncertainty around success and/or timing, the impact of these opportunities has not been factored into our current expectations."We remain committed to implementing our five year strategy announced at our preliminary results in June 2014 and we strongly believe that this is the best way of generating shareholder value in the medium-term and beyond."The group said it continued to make good progress expanding its presence into Brazil and China and said it was focused on improving its competitiveness.It added that it was actively considering a number of opportunities to streamline and simplify the group's operations."We are committed to the delivery of our strategic plan and believe that we have put in place a number of the key building blocks in order to execute it," chief executive officer Patrik Dahlen commented."We can accelerate our strategy through the acquisition of complementary diagnostic groups and intellectual property which will introduce new growth areas and ultimately return IDS to long-term sustainable growth."