Share Prices & Company Research

Market News

19 Jun 2019 | 15:00

Immunodiagnostic Systems posts modest profit as margins shrink

Immunodiagnostic Systems Holdings posted a modest annual profit after rising sales were offset by higher R&D and administrative spending.

Pre-tax profit for the year through March rose to £842k, down from £935k on-year.

Revenue rose 1% to £38.5m.

The company said margins had been adversely impacted by a change in sales mix, with greater levels of sales occurring in lower-margin distribution territories.

'We met our target of returning the group to revenue growth, with revenues increasing 1%,' chief executive Jaap Stuut said.

'Additionally, we placed or sold 127 instruments, compared to 103 in the prior year.'

'Our gross margin declined year on year due to a sales mix swing towards lower margin distribution territories.'

'We built good momentum towards the end of the financial year, and our objective will be to carry this forward into the next.'

At 3:00pm: (LON:IDH) Immunodiagnostic Systems Holdings PLC share price was -10p at 190p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.