9 Oct 2009 07:00
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 2009 in advance of releasing its interim results on 27 November 2009.
Turnover for the business is c. 9% ahead of the comparative period last year at £2.87 million (2008: £2.64 million) with continued growth in most regions, and trading remains in line with management expectations.
Food Detective™
Sales of the macroarray-based Food Detective™ have continued to perform very well with substantial growth particularly in UK/Europe. Overall, sales of 14,957 kits have been achieved in the first half of this year (2008: 5,266 kits) providing revenues of £348k (2008: £130k). Since the last financial year, distributors have been appointed in a further 16 countries, widening the coverage to 34 countries to date, which is expected to underpin continuing organic growth of this product.
Genarrayt™
The upgrading of our manufacturing methods for the production of the microarray-based Genarrayt™ assay has now been completed with the new non-contact inkjet Microarrayer fully validated and now in production use. Sales of Genarrayt™ kits and instrument packages for the first half are c. 19% ahead of the comparative period at £442k (2008: £373k). A further 13 system installations have occurred during this period in India, Italy, Canada, Jordan, Lebanon, Saudi Arabia, Syria and Thailand, bringing the total installations since launch to 35. We expect the rate of sales of reagent kits to increase in the second half following these system installations along with efficiencies from the upgraded manufacturing processes.
Following the announcement on 25 September 2009 regarding the acquisition of Co-Tek, we have made good progress and are confident of the increased contribution this acquisition will make to our infectious disease product area and overall, trading remains in line with management expectations.
Further enquiries:
| Omega Diagnostics Plc | Tel: 01259 763 030 |
| Andrew Shepherd, Chief Executive | |
| Kieron Harbinson, Group Finance Director | www.omegadiagnostics.com |
| Cenkos Securities plc | Tel: 020 7397 8900 |
| Nick Wells Andy Roberts Elizabeth Bowman | |
| Walbrook PR Limited | Tel: 020 7933 8787 |
| Paul McManus | Mob: 07980 541 893 |
| paul.mcmanus@walbrookpr.com |