Page last updated at 10:54 GMT, Tuesday, 16 March 2010

Axis-Shield announces full year profits of 11m

A nurse with a test tube
Axis-Shield manufactures its products in Dundee and Oslo

Dundee-based medical diagnostics firm Axis-Shield has reported full year pre-tax profits of £11m compared with a loss of more than £4m in 2008.

Axis-Shield has developed testing systems for a wide variety of conditions and diseases such as diabetes, arthritis and septicemia.

The company said it had bought back its US marketing rights for its Afinion diabetes system from Abbot Diagnostics.

Axis-Shield said it expected to pay its first dividend next year.

Outgoing chairman Nigel Keen said the company was in a strong position.

He added: "We continue to see good opportunities for growth across the business, both organically and through complementary acquisitions, and we look to the future with confidence."

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