() said the full-year outcome is expected to be significantly ahead of market expectations, driven by demand for its high-margin diagnostic solutions.
The provider of real-time technologies for networking solutions and medical laboratory systems managed to grow underlying earnings (EBITDA) by 325% in the first half of 2021 despite a dip in revenue.
EBITDA jumped to US$22.7mln from US$5.3mln in the first half of 2020 even after a 7.7% slide in revenue to US$71.4mln from US$77.4mln the year before. Profit before tax soared to US$19.8mln from US$1.9mln the previous year.
The Bio-Medical division accounted for 77.1% of total revenue, up from 64.6% the year before, as its turnover increased by 10.2% to US$55.1mln from US$50.0mln, driven by sales of COVID-19 diagnostic kits, which more than offset the contribution to revenues in the first half of last year from the exceptional critical care ventilators contract; stripping out the ventilator contract, revenues surged 36.4% year-on-year.