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Omega Diagnostics

  • BY: Andrew Hore |
  • POSTED: 13/10/2010 |

Diagnostic kits manufacturer Omega Diagnostics says that first half trading was in line with expectations.

Revenues grew 15% to £3.3m in the six months to September 2010. The fastest growth has come from the Genarrayt kits and instruments packages, whose revenues jumped 72% to £761,000. Reagent sales made up the bulk of this revenue.

House broker Cenkos forecasts a doubling of full year profit from £600,000 to £1.2m. Cash generation will reduce borrowings.

At 18p a share, up 2.5p, Omega is valued at £3.71m. The shares are trading on just over four times prospective 2010-11 earnings.

Download the October edition of AIM Journal at http://www.hubinvest.com/AIMPDFOctober2010_13.pdf

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