Business
Trading Update & Notice of Results
Trading Update & Notice of Results.
About this update from Cambridge Nutritional Sciences Plc
[{"type":"text","content":"\n \nRNS Number : 8545V Omega Diagnostics Group PLC 21 April 2016 \n\n \nOmega Diagnostics Group PLC\n(\"Omega\" or \"the Company\")\n \nTrading Update and Notice of Results\n \nOmega (AIM: ODX), the medical diagnostics company focused on allergy, food intolerance and infectious disease, announces that results for the year to 31 March 2016 will be in line with market expectations. Revenues for the year are expected to be £12.7m and adjusted profit before tax* will be in the range of £1.2m to £1.3m. \n \nFinancial update\n \nRevenue is expected to be £12.74m, 6% ahead of last year in constant currency terms and 5% ahead of last year's result (31 March 2015: £12.11m) on an actual basis. \n \nSegmental revenues are expected to be as follows:\n \n\n\n\n\n \n\n\nRevenue to 31 March 2016\n\n\nRevenue to 31 March 2015\n\n\n% increase\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nFood Intolerance\n\n\n£7.06m\n\n\n£5.95m\n\n\n+ 19%\n\n\n\n\nAllergy/Autoimmune\n\n\n£3.16m\n\n\n£3.61m\n\n\n - 13%\n\n\n\n\nInfectious Disease/Other\n\n\n£2.52m\n\n\n£2.55m\n\n\n - 1%\n\n\n\n\nTOTAL \n\n\n£12.74m\n\n\n£12.11m\n\n\n + 5%\n\n\n\n\n \n \nAllergy development - IDS-iSYS automation update\nWe have now reached our target and have optimised 41 allergens which will be included in our initial launch panel. All of our Allersys® reagents have been evaluated on the IDS iSYS® analyser to demonstrate performance that matches with the market-leading product. We are currently in the process of building up inventory levels to support a market launch in the near future. Our scientific team, in conjunction with our contracted partner, is already working on delivering menu expansion beyond the initial launch panel.\n \nExternal evaluations have now been completed in Spain, Italy and France, with a fourth ongoing evaluation in Germany. Of the three completed beta studies to date, we have now tested over 1,000 patient samples with 18 different allergens from our Allersys® reagent range and results are in line with our internal claim support work. These external evaluations, in conjunction with our claim support work, will enable us, as outlined in November last year, to CE mark all 41 allergens during the ear...