Trinity Biotech announce revenue increase

Trinity Biotech, the developer and manufacturer of diagnostic products for the point-of-care and clinical laboratory markets, today announced a revenue increase of 25% for the third quarter of the year.

In an announcement today it revealed revenues in the quarter increased 25.1% to $26.9m (€22.1m) compared to $21.5m (€17.6m) in the same period last year.

Commenting on the results, Rory Nealon, chief financial officer, said: “Quarter 3 has been a quarter of continuing progress for Trinity. Our revenues have grown by 18% on Quarter 2 and our operating margins have increased to 8.0% as compared to 6.8% at the start of the year.

"We have also funded our recent Primus acquisition entirely by bank debt which will enhance our financial flexibility and our ability to deliver further shareholder value.

"We are especially pleased with the growth across all of our key product areas, each of which is outperforming the market growth rates. In particular, our infectious disease business has benefited strongly from large sales of flu antibodies in the current quarter.”