Omega slashes debt as profit rises

 
2 July 2012

Diagnostics company Omega said turnover rose 41% to £11.1m in the year to end-March and gross profit rose 49% to £7m.

The business saw revenues up across its business sectors and adjusted profit before tax was up 36% to £1m while debt was reduced to £0.1m.

David Evans, chairman, said: "As the group looks to build on its progress to date, it is clear that to achieve significant year-on-year growth we either need to increase the level of automation for customers or to provide POC tests to provide solutions for unmet needs in developing markets.

"From a market perspective, a focus on the growing BRIC countries is expected to yield above average results."

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