The medical diagnostics company posted a pretax profit of
Revenue growth was driven by a strong performance from the company's food intolerance division, boosted by 35% sales growth for its Food Detective products and 15% sales growth for its Genarrayt reagent products.
The company has continued to develop its programme to launch allergy tests on
During the year
The company said its trading in the new financial year to-date is in line with expectations, with growth in food intolerance offsetting a decline in Allergy and Infectious Disease testing.
Omega expressed confidence for the new financial year as its Visitect CD4 test moves closer to commercialisation. The company said that the sales potential for the product is high, however, there are some hurdles to overcome including individual country evaluations and approvals.
"Our future landscape is brightened, as well as dominated, by the prospects for our Visitect CD4 test, which is now well into its field trials," said Chairman
Whilst the company is confident for the prospects of the product, it remains cautious, noting that as the product's success will be primarily based on global tenders, it will be affected by the availability of funds and the needs of governments.
As a result of this uncertainty, the company said it had erred on the side of caution in terms of revenues and building its overhead base ahead of the products launch.
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