Results Round-up
Immunodiagnostic Systems, a medical diagnostic products manufacturer, said its full-year was not a successful one, with a decline in revenues, the underperformance of its innovation process and sales failing to deliver.
The group saw a significant fall in income related to its vitamin D measurement product, which led to a 13% drop in turnover to £45.4m, while pre-tax profits were slashed by half to £4.05m.
During the year, the company introduced two new automated asseys, which although better than the previous year, "clearly indicates that our innovation and development process requires further improvement", it said.
After returns, the company achieved 14 net new placements, down from 35 last year and 88 in 2013, which it said was "far below" the levels achieved by its competitors.
Looking ahead, the group said it is still suffering from negative momentum and any changes will take time to become effective.
The company is still expecting to deliver revenue of between £39m-£42m in 2016 and said it hopes to be able to show an improvement in momentum between the first and second halves.
In line with its revised dividend policy, Immunodiagnostic proposed a dividend of 3p per share, down from 8.5p in 2014.
It will also seek to buy back up to 2.25m shares at its next annual general meeting.
Oil and gas explorer Roxi Petroleum swung to an annual pre-tax profit in 2014, after reversing an impairment charge it booked in the previous year.
The Kazakhstan-focused group posted a $20.1m pretax profit in 2014, compared with a $9m loss in 2013 on the back of the reversal of a $25m impairment charge.
Annual revenue rose 67.2% year-on-year to $1.6m, while administrative expenses fell 9.3% to $4.9m and finance costs dropped to $0.96m from $4.3m.
The London-listed group said its 2015 drilling programme will be fully funded by the proceeds from the sale of its interest in the Galaz project and the income from oil sales, adding its "sole objective" in 2015 is to achieve a production rate of 4,000 barrels per day from its BNG project.