Optos

Medical retinal screening specialist Optos (OPTS) has pleased with annual pre-tax profits up 43% to $25.1m (£15.7m).

The fully listed company, with a declared ambition to become world leader in its field, increased turnover 35% to $143.3m in the year to September, helped by a trend from rental to outright sales, which rose more than fourfold to $37.6m.

Steered by chief executive officer Roy Davis, Optos grew North American sales 25% to $117.1m, nearly 82% of the total, and opened new markets in the European Union, Japan, Australia and the Middle East. The company says it is pleased with its push into ophthalmology in the USA and elsewhere and with its acquisitions – Opto Global, which Davis says will break even in its first year, and Opko Instrumentation.

According to Davis, Optos has felt no impact from the economic downturn and sees plenty of scope for further market penetration. He reiterates his faith in the opportunities that will be opened up by the commercial launch of Daytona, the company's 'next-generation' desktop retinal device that should be on sale in the first quarter of next year, which should enhance the company's medium-term prospects.

Recommended by Growth Company Investor in June at 171p, Optos shares, which as yet pay no dividend, now trade at 227p and should go further.