Maiden pre-tax profit for Epistem

5th Oct 2010 13:28

UK biotech company, Epistem, celebrates the full year results with a maiden pre-tax profit since becoming an AIM-listed company in 2007.The group has swung to a pre-tax profit of £0.35m, from last year's loss of £0.67m. Revenues rose 45% to £5.7m, from £4.0m previously, as sales rose across all divisions.Epistem has also unveiled a new diagnostic mobile service, called Genedrive?, for 'on the spot' patient diagnosis. The new device has been incorporated into the Personalised Medicine division.Following these results, the broker KBC Peel Hunt, has kept a buy rating and 515p target price, suggesting a 50% upside to the current price.CEO, Matthew Walls said, "the Personalised Medicine market is forecast to grow considerably over the next few years."