Axis-Shield's 1st-half 2007 revenues rise 4.9%

Axis-Shield, an in vitro diagnostics company based in Scotland and Norway, says that, for the six months ended June 30, 2007, its revenues increased 4.9% on the like, year-ago period, to L33.1 million ($66.7 million). This, it says is mainly derived from the weakness of the US dollar, which accounts for approximately 60% of total income, with a further 30% from Norwegian kroner-based revenues.

During the period, the firm's operating costs increased slightly to L11.6 million from L11.5 million. If adjustment is made for the exchange gain (due to strengthening of the British pound versus the Norwegian kroner), the increase is L500,000, or 3.9%. The main factor in cost increases has been the expenses associated with the commercialization of Afinion point of care system, which has raised the firm's sales and marketing spend in the Direct Distribution and PoC Divisions, particularly in the key US market.