Companies: AKR   

Shares in medical diagnostics play Akers crashed 48% to 25p after the New Jersey-based outfit warned on profits for the year to December. Akers business is the design and manufacture of 'rapid diagnostic screening and testing products' for diseases such as HIV, hepatitis and malaria. It recently cheered followers with contract awards worth $14.5m (£9.2m) financed by the World Bank for disease management products in Kenya. Akers went on to win a contract in Kenya for an emergency malaria control program, taking the total value of its 'Kenyan' orders to some $35m (£22.1m). However in a shock statement CEO Ray Akers warned unexpected delays processing payments and letters of credit delayed shipment on these deals and Akers will not hit market expectations for the year. House broker KBC Peel Hunt was looking for $7.4m (£4.7m) of turnover and profits of $2.1 million (£1.3m) pre-amortisation and tax. 'But now we've suspended the forecast,' commented disappointed analyst Gary Waanders, 'we have no idea where it will end up.' Akers is also borrowing $525,000, about £332,000, at 8% interest via a one-year loan using 3.9m new shares as collateral. The company came to Aim in May at 136p.