Bumper year ahead for firm selling Covid tests to the NHS

The biotech company at the heart of government attempts to rapidly increase coronavirus testing has forecast that significant demand could remain into next year.

Yesterday, alongside its annual results, Novacyt said that its board believed demand for its Covid-19 diagnostic test “will continue through to the end of the year, and may extend well into 2021”.

Novacyt said that in the four months to the end of April, its earnings before interest, tax, depreciation and amortisation (Ebitda) margin was more than 50 per cent.

It said: “Should the current level of activity continue for the full year, it will be financially transformational for the business and orders suggest a continuing increase in the level of sales activity.”

Novacyt has emerged as one of the key