News blog
Avacta Group
- BY: Andrew Hore |
- POSTED: 04/03/2011 |
Diagnostic equipment supplier Avacta Group expects “solid underlying revenue growth” in the six months to January 2011 but it will be lower than expected.
A slightly bigger loss than forecast will be made at the interim stage.
It is still frustratingly difficult to build up sales of the Optim benchtop analysis instrument. Avacta has received nine orders so far this year, compared to five in the whole of the previous year. The first US sale was at the end of 2010.
A new distribution deal with Pall Corporation could help to grow sales of the Optim in North America. Isogen Life Sciences has been appointed as distributor in Europe and Cold Spring Biotech as distributor in China and Taiwan. Two Chinese orders have already been placed.
The veterinary products division has started marketing its AX-1 point of care testing platform.
The full year figures will be published on 18 April.
At 1.29p a share, Avacta is valued at £21.2m.
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