Omega Diagnostics revenues trigger adverse reaction

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Omega Diagnostics revenues trigger adverse reaction
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The price of shares in AIM-listed allergy and intolerance testing company Omega Diagnostics (LON:ODX) dropped by 15.92% to 14p (as of 12:50 GMT) following a 27% fall in revenues for the six months ended 30th September. Management ascribed this decline to the disposal of the infectious decision arm and the closure of the German and Indian business units. As a result, profits before tax increased eightfold to £0.8 million.

Chairman David Evans said: “Our short-term outlook is dominated by our efforts to realise value for Shareholders whilst at the same time successfully accelerating our efforts to commercialise our CD4 offering. The challenges are not inconsequential but I remain confident that in those areas where we can control our own destiny that we will succeed in delivering our objectives. In those areas where we are not masters of our own destiny then, by definition, the outcome will always be less certain. I believe it is best for our statement to reflect that reality as it stands today. Rest assured we will continue to work towards achieving success for all our Stakeholders“.

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