IDS reveals 27% profits rise as sales hit £24.9m

Jun 23 2009 by Andrew Mernin, The Journal

FUELLED by a 51% surge in revenues, medical test kit maker IDS will target rapid expansion by distributing its new automated machine to more than 1,000 facilities around the world.

The South Tyneside company yesterday revealed a 27% rise in pretax profits to £4.8m in the year ending March 2009, as sales soared to £24.9m.

The business, which employs around 80 people in Boldon, was also confident of hitting market predictions of ongoing growth this year, with trading in April and May having met expectations.

According to its nominated stock broker Brewin Dolphin, pretax profit will almost double to £8m this financial year while revenue jumps beyond the £30m-a-year mark.

Testing kits for vitamin D – which is becoming increasingly relied upon as a marker of bone health and wellbeing – continues to play a major role in the company’s success.

As the medical community becomes more aware that a vitamin D deficiency can signal the onset of numerous serious diseases, including colon, breast and prostate cancer, the demand for IDS products grows.

However, while IDS will retain vitamin D kits as its core business, its future success looks set to be mapped out by the mass international roll-out of its new automated machine, IDI iSYS.