StockMarketWire.com - Disease and allergy testing kit supplier Omega Diagnostics swung to an annual loss after sales slipped and it placed its German allergies unit into administration.

Pre-tax losses for the year through March amounted to £7.27m, compared to a profit of £0.71m on-year.

Revenue fell 5% to £13.6m, with falls in food intolerance and allergy divisions offset by a 1% rise in infectious diseases.

'As we move forward we have a difficult balancing act to maintain in terms of keeping the core business moving along whilst successfully executing our strategic priorities,' chairman David Evans said.

'That challenge should not be underestimated in terms of management stretch but I know that we have a good team here and they are up to that challenge.'

The company is selling or closing some assets to focus on its CD4 testing kit of HIV infection.

'"Ultimately, we are judged by our results and it may end up being a rather circuitous route to success, but I do believe that after many years of famine shareholders will see some bread in their basket by this time next year,' Evans said.

'The key thereafter will be to replenish that basket. I am confident we can achieve both.'






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