Member Article

Boldon-based IDS faces £6m revenue drop following business reductions

Boldon-based Immunodiagnostic Systems Holdings (IDS) has announced that it expects to report a decrease in year on year revenues, following reductions in its manual assay business.

Releasing a trading update this morning for the year ended 31 March 2016, the specialist solution provider to the clinical laboratory diagnostic market says total revenues are expected to drop to from £45m last year to c. £39m.

The year on year decrease is mainly due to further reductions in its manual assay business, where test volumes continue to migrate to automated solutions offered by us and others.

At the end of the year the company employed 315 people on a full time employment basis, 31 people less than in 2015 (346).

In January earlier this year it was reported that up to 26 jobs could be lost at IDS, as the firm proposed moving its activities from its Boldon-based manufacturing site to its Belgium manufacturing facility.

The group will announce its preliminary results for the year ended 31 March 2016 will be revealed on 22 June 2016 whereby an updated staff headcount is expected to be included.