Poor sales hit Trinity Biotech shares

SHARES in Trinity Biotech plunged yesterday after the company missed its third-quarter sales target.

The Bray, Co Wicklow company, which develops tests for viruses such as the flu and HIV, said although revenues in the third quarter were higher than at the same point in 2006, the figure was lower than expected. The company said the problem was due to “seasonal factors” with revenues impacted by lower flu antibody sales.

Shares in Trinity Biotech, which are now listed on the Nasdaq market in New York, fell by nearly 15% in early trading.