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Drugs test kit profits could sparks jobs boost
SOARING profits will mean more jobs at a South Tyneside medical test kit company.
Immunodiagnostic Systems (IDS), based at Boldon Business Park, has just announced a 27 per cent rise in pre-tax profits to 4.8m in the financial year ending in March.
Sales also rose to 24.9m, with experts predicting the company's pre-tax profits will almost double to 8m this year.
There are 80 people employed at the firm's Boldon base, but company chief executive Dr Roger Duggan expects that to rise soon, largely due to an automated testing machine the company is rolling out across Europe and beyond.
He said: "We employ more than 80 people in the UK, but that will inevitably grow as our expansion continues.
"We have already taken on six or seven people at Boldon in the last three months – mostly experienced technicians – but I would expect we will be recruiting some engineers in the fairly near future."
Although IDS has not been seriously affected by the global recession, Dr Duggan revealed the company would not be adding to its recent list of company acquisitions.
"We have to push ahead with our automated machine, which means we can tap into testing systems in huge factory laboratories, with much bigger volumes.
"We hope to have our machines available in bigger institutions in Japan, China and Canada.
"I think the next year or two for IDS will be more about consolidation, than making more acquisitions," Dr Duggan added.
IDS hopes to distribute more than 1,000 of its new automated machines, which allow fast analysis of blood samples, to 40 medical centres over the next four years.
Revenue is created by the sale of the testing kits made by IDS, which is a pioneer in the field of bone disease.
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Thursday 24 May 2012
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