Profits soar at Covid-19 test manufacturer as Government contracts provide healthy bottom line
Surescreen Diagnostics, the Derby firm which pioneered the manufacture of Covid-19 tests during the pandemic, has seen a huge rise in its profits.
According to newly-filed accounts, Surescreen’s turnover leapt from just £6.7m in 2020 to £148.1m for the year ending May 31 2021. Profits saw a similar hike, rising from £900,000 to £67.2m over the period as the firm won major contract with the Government to supply Covid-19 testing kits.
Company bosses now say they are focused on the changing nature of the lateral flow kits and planning ahead for “positive market trends” for testing.
In April, Surescreen saidaA “culture change” prompted by the COVID pandemic is helping to pave the way for pioneering lateral flow tests designed to check for flu and diabetes – and Derby’s SureScreen Diagnostics is leading the way.
SureScreen is based in Derby but opened a major base at the Sherwood Business Park, Annesley, Nottinghamshire, last year in order to meet the UK and global demand for COVID-19 lateral flow tests.
The tests are currently being supplied to the NHS and more than 60 countries worldwide.