StockMarketWire.com - Disease test kit supplier Omega Diagnostics posted a full-year loss, citing a fall in demand that it pinned on the pandemic.

Pre-tax losses for the year through March amounted to £3.5 million, compared to year-on-year losses of £8.3 million. Revenue fell 11% to £8.7 million.

Omega Diagnostics has recently developed tests for Covid-19, but a mainstay of is business has been tests for other conditions, including food allergies and HIV.

'The health and nutrition business has a range of high-quality products for assessing food sensitivity and is also a market leader,' chairman Simon Douglas said.

'The global economy has struggled in light of the pandemic and with that the growth in this division has been affected.

'But, as we see many parts of the world opening up more, I am pleased to see a strong recovery in this division in the second half of this financial year just ended.'

Douglas said he expected to see demand in the health and nutrition business continue to improve this year.

'Covid-19 antigen testing still remains a significant opportunity for us, although very much dependent on the UK government's decisions as to test selection and timing.'


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