Axis-Shield's 2008 revenue jumps 28%

Scottish in vitro diagnostics firm Axis-Shield said revenues in 2008 rose 27.8% year-on-year to GBP85.3 million from GBP66.7 million, with growth  of 14.3% at constant currencies. Profit after tax amounted to GBP4.5  million, up from GBP2.0 million last year.

Underlying profit before tax jumped 68.0% to GBP4.5 million, as  point-of-care division revenues rose 37.4% to GBP34.3 million. Underlying  earnings per share were up 18.8% to 6.52 pence, while R&D costs reached  GBP8.3 million before exceptional items from GBP7.8 million in 2007.

The company said its net indebtedness amounted to GBP7.5 million at the  end of the year versus last year's net cash of GBP800,000. Its cash  reserves at year end of GBP9.4 million versus GBP12.2 million.