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Immunodiagnostic Systems annual revenue falls, but stronger H2 points to improving recovery
StockMarketWire.com
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Diagnostic testing kits provider Immunodiagnostic Systems reported a fall in annual revenue, but results were helped by a strong recovery in the second half of the year.
For the year ended 31 March 2021, revenue amounted to £32.7 million, down from £39.3 million last year as pandemic-led hit in H1 weighed on performance.
For the H2 FY21 revenue was expected to be £19.0 million, up from £13.7 million in H1 FY21, representing 39% growth H2 on H1.
'Due to the resulting drop in routine diagnostic testing, this materially impacted IDS revenues recorded in H1 FY21,' the company said.
In H2, the automated business unit returned growth and the company said it was' very confident that moving forward the revenue growth seen in this business unit pre-pandemic will continue, and most likely accelerate because the Vitamin D products which have historically depressed growth rates are a progressively less significant proportion of the product mix.'
At 8:02am: (LON:IDH) Immunodiagnostic Systems Holdings PLC share price was 0p at 200p
Story provided by StockMarketWire.com
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