Shares digital

Axis-Shield (ASD) – Finals PTP: £2m (£2m) Divi n/a (n/a)

Last year was the first full year of sales for Axis of its Affinion testing systems which helped boost sales by around 10% to £66.7 million.

Chief executive Ian Gilham said that 1500 units of the products were shipped last year, in line with expectations. ‘We are looking to place another 3000 this year,’ he said, with half of shipments expected in the US and the other half in the rest of the world.

The bulk of revenue for the company comes from selling cartridges for the machine for its various tests, which currently include diabetes and cardiovascular complications.

New tests for coagulation and bacterial infections are also planned, which should help increase sales. The shares have been volatile over recent months but Piper Jaffray analyst Julie Simmonds has set a 346p target price, some 29% above their current 269p

Shares says: A lot rides on Affinion but early signs show its going well.

by: Susanna Twidale