Trinity Biotech profits increase

TRINITY BIOTECH, the Wicklow-based developer of tests for infectious and sexually transmitted diseases, saw pre-tax profits rise to $8 million (€6.25 million) last year, up from $5.7 million in 2002.

Revenues went up 26% to $65.7 million, driven by a combination of organic growth and acquisitions during the year.

Chief executive Ronan Ó Caoimh said the results met expectations and its two main business units performed strongly. He also flagged further acquisitions and said Trinity’s combination of strong operating profits and cash reserves left it well-placed to add to its portfolio.