Immunodiagnostic Systems Holdings PLC - Tyne & Wear-based diagnostic testing kits and instruments maker - For the six months to the end of September, pretax loss widened to GBP3.5 million from GBP230,000 the year before, on revenue that declined by 27% to GBP13.7 million from GBP18.8 million.
This was mainly due to a poor performance in the first quarter, where revenue dropped by 61% to GBP5.7 million, as levels of routine diagnostic testing fell, especially in April.
"While I am pleased with the recovery shown during the second quarter, there remains uncertainty as to how this recovery might evolve, as it is highly contingent on the future development of the pandemic. Given the current onset of a second wave of Covid-19 infections across Europe and the US we will keep a tight control on costs and aim to be ahead of the curve when matching costs to revenues," said Chief Executive Officer Jaap Stuut.
Current stock price: 200.00 pence
Year-to-date change: down 27%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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