News blog

Omega Diagnostics

  • BY: Andrew Hore |
  • POSTED: 10/12/2019 |

Omega Diagnostics will lose money this year, but it is on course to become profitable in 2020-21 as sales of the VISITECT CD4 test. 

Sales from continuing operations increased by 6% to £4.5m in the six months to September 2019. The improvement came from the food intolerance division, which currently dominates revenues. The interim loss was lower following the closure of the German business.

A further order has been received for VISITECT CD4 from Nigeria and if it is approved by the authorities it will be shipped by next March. The Nigerian orders are worth £1m and £500,000 is expected to be earned this year.

Further approvals from WHO and other countries will provide the opportunity to generate more sales.

A full year loss of £600,000 is expected for the full year and this is forecast to become a pre-tax profit of £400,000 next year. That is expected to be achieved on the back of a trebling of revenues from the infectious disease division.

Omega will generate cash from operations, but high levels of capex mean that net debt will be £800,000 by the end of March 2020 and then £1.4m one year later.

© 2020 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

News Blog
All micro news

Quoted Micro 20 January 2020

Continue reading... | 19/01/2020

Northern Bear

Building services provider Northern Bear has acquired electrical contractor J Lister for an initial £950,000 in cash and shares. 

Continue reading... | 19/01/2020

SimiGon Ltd

A shareholder has filed two legal claims against simulation technology company SimiGon Ltd. 

Continue reading... | 19/01/2020

UniVision Engineering Ltd

UniVison Engineering Ltd has signed a framework agreement with the China Railway Engineering (Hong Kong) and China Railway Wuhan Electrification Engineering joint venture. 

Continue reading... | 19/01/2020

All micro news

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at Subscribe to AIM Micro RSS Feeds