Diagnostic specialist Genetix made £1.1 million pre-tax and launched its GSL-120 Slide Loader in the first half year.

The Hampshire-based company, which focuses on cancer diagnosis and bio-pharmaceutical technology products, increased turnover 19 per cent to £12.4 million in the six months to June. But a £2.5 million increase in administrative expenses to £6.8 million helped clip profits growth to 5.5 per cent.

AIM-quoted Genetix, where Dr. James Hill recently replaced James Morgan as chairman, spent a slightly reduced £866,000 on research and development in the first half of 2008, as it worked to maintain its role in the forefront of cell biology and proteomics and as a contributor to the Human Genome Project. The period under review saw the launch of the company’s GSL-120 Slide Loader, described as an ‘automated solution for scanning and imaging cytogenic slides, thereby providing significant productivity gains [and] giving clinicians more accurate and consistent images’.

Chief executive Mark Reid argues the new slide loader has ‘further confirmed Genetix at the forefront of introducing leading-edge science technology’ and adds that the board is ‘confident for the full year as a whole’. The shares, which halved to 42p between last November and February, have inched back up to 49.5p, where they value the company at £35.5 million and might fare better than some in the sector.

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Genetix Group	AIM	£30.51m	42.50p	0.00p
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