Scotland business

Revenue increase for medical firm Omega Diagnostics

syringe
Image caption Omega Diagnostics said that revenues at the firm increased by 41%.

The allergy-testing company Omega Diagnostics has announced pre-tax profits up 36% to £1m.

The Clackmannanshire-based firm issued full-year figures for the year to 31 March, with revenue up 41% to £11m.

Its allergy testing division grew turnover nearly three-fold to £4.5m, and its food intolerance kits put on 10% growth to £3.9m.

However, the company's infectious disease division saw its revenue fall back by 2%.

David Evans, the firm's chairman, said further growth would require more automation or point-of-care testing kits to provide for unmet needs in developing markets.

He said: "A focus on the growing BRIC countries (Brazil, Russia, India and China) is expected to yield above-average results."

The main focus for the company will be on Indian and Chinese markets.

The firm, headquartered in Alva, plans this month to launch a new product using Australian technology that quickly detects the best timing for delivering anti-retroviral therapy to those with HIV infection.

It is also developing a new point-of-care instrument for allergy testing.

Looking ahead, there is a warning that healthcare systems are facing budget constraints, and that the German healthcare system is looking in particular at its spending on allergy testing.

More on this story

Related Internet links

The BBC is not responsible for the content of external Internet sites