25 November 2011 – interim results

The medical diagnostics group has announced interim results to 30 September which have shown a 67% increase in revenue to £5.53m (2010: £3.30m) and a 6% increase in adjusted pre-tax profits which have risen to £427,000 (2010: £403,000).  Adjusted earnings per share have fallen to 0.4p (2010: 1.7p) although cash at the end of the period had risen to £1.88m (2010: £0.91m).  The small increase in profits compared with revenue is due to higher administration and marketing costs following the acquisition of the German business last year.  Earnings per share are down following the large increase in the number of shares in issue following the fundraising in December 2010.  The shares remain a LONG TERM BUY.