Immunodiagnostic Systems Holdings PLC - Tyne & Wear-based diagnostic testing kits and instruments maker - For the six months to the end of September, revenue dropped by 21% to GBP13.7 million from GBP18.8 million the year before.
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.
"We remain confident, that once the global situation improves, IDS is well positioned to return to growth, leveraging our increasing installed base and assay menu, which now includes a comprehensive SARS-CoV-2 offering, as well as our strong balance sheet position. Furthermore, our shrinking Vitamin D business has lost significant weight in our revenue mix, thus the structural growth of our non-vitamin-D business should show through once we have returned to normal," the group stated.
Current stock price: 220.00 pence
Year-to-date change: down 19%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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