Scotland business

Medical firm Omega Diagnostics predicts revenue rise

Test tube and syringe
Image caption The sharp rise in profits forecast by the company is mostly down to its takeover of a German firm

Alva-based medical testing company Omega Diagnostics has forecast a 41% increase in profits.

The rise is mostly down to the acquisition of the German lab-testing company Allergopharma in November 2010.

Omega said it expected revenue for the year to the end March to reach more than £11m.

Chief executive Andrew Shepherd said: "We are very pleased with the progress Omega has made and the overall business is performing strongly."

Last year Omega set up a subsidiary in India to tap into the country's major growth potential for allergy products and Mr Shepherd said the company was "looking forward to significant opportunities" presented by direct access into the Indian market.

Shares in the company rose by nearly 10%.

Omega specialises in food intolerance testing and tests for infectious and auto-immune diseases.

It operates in about 100 countries.

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