7 July 2015 – final results
Results for the year to 31 March 2015 have been released. Total revenue was up by 4.4% to £12.1m (2014: £11.6m), with the Food Intolerance division delivering strong performance. Adjusted profit before tax was £1.4 million versus £1.1m. Profit after tax of £1.43m (2014: £1.25m) translated into adjusted earnings per share of 1.3p (2014: 1.2p). Although these were solid results and the current year has started to plan, the numbers have been overshadowed by news that there is a stability issue with the storage of the Visitect CD4 product. This is a disposable, rapid test designed to test whether people with human immunodeficiency virus (HIV) or acquired immune deficiency syndrome (AIDS) can be moved onto antiretroviral treatment. The share price has been hit and at this level we retain our LONG TERM BUY rating.