OMEGA Diagnostics has said it expects to report a 41 per cent increase in annual revenues to £12.3 million for the year ended March 31, 2022, as a dispute with the UK Government over an ill-fated Covid testing contract continues.
The company’s health and nutrition division contributed £8.6m of its revenues against £6.8m the year before.
The global health division, which includes HIV and Covid products, has also seen substantial growth in the period, up 97% to £3.8m.
CD4 HIV testing revenues increased to £1m from £100,000. Covid-19 related revenues contributed £2.6m, against £1.7m.
However, ongoing Covid income is expected to be minimal, it said.
“The company remains in dispute with the Department of Health and Social Care … at the company’s request, the DHSC is making arrangements to remove the government-funded equipment from the Alva site.”
Omega has sold its facility in Alva to a Chinese firm, but the company's plans to relocate to England were recently dealt a setback.
Shares in Omega closed at 5.15p, down 8.04%.
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