13 Oct 2010 07:00
13 October 2010 AIM: ODX
Omega Diagnostics Group Plc
("Omega")
Trading Update
Omega, the AIM listed medical diagnostics company announces the following trading update for the six months to 30 September 2010 in advance of releasing its interim results on 26 November 2010.
Trading remains in line with management expectations with turnover approximately 15% ahead of the comparative period last year at £3.3 million (2009: £2.87 million). Sales of Genarrayt™ systems and Food Detective™ kits have grown strongly.
Genarrayt™
Sales of Genarrayt™ kits and instrument packages have increased substantially in the period by approximately 72% to £761k (2009: £443k). A further 22 system installations have occurred during this period in Brazil, Hungary, India, Israel, Italy, Malaysia, Syria, Thailand, Turkey and UAE bringing the total installed base around the world to approximately 80 systems since launch. We are seeing increased traction of reagent sales from these installations. Reagent sales alone were £632k (2009: £376k) in the period and we expect further progress in sales of reagent kits in the second half following this year's new system installations.
Food Detective™
Sales of the macroarray-based Food Detective™ have continued to perform well with volume growth particularly in the Middle East and Far East. Overall, sales of 19,225 kits have been achieved in the first half of this year (2009: 14,957 kits) providing revenues of £369k (2009: £348k). Volume growth has outstripped revenue growth due to the supply of bulk components to a customer in China who then assembles the kits locally. Food Detective™ is now available in over 40 countries.
The continued growth of both of these products in the second half of the year will be key. The Directors remain confident in the Group's growth prospects and trading remains in line with management expectations. Alongside the Group's organic growth we have continued to investigate acquisition opportunities.
Further enquiries:
| Omega Diagnostics Group PLC | Tel: 01259 763 030 |
| Andrew Shepherd, Chief Executive |
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| Kieron Harbinson, Group Finance Director | www.omegadiagnostics.com |
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| Cenkos Securities plc | Tel: 020 7397 8900 |
| Ian Soanes Elizabeth Bowman |
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| Walbrook PR Limited | Tel: 020 7933 8787 |
| Paul McManus | Mob: 07980 541 893 |
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| paul.mcmanus@walbrookpr.com |