Shares in screening and testing products group Akers Biosciences surged after the company reported a 72% increase in revenue after a "momentum-building" year.

Revenue for the 12 months ended 31 December grew to $3.1m, from $1.8m in 2009, as a result of strong sales of its HIT-testing product ('PIFA Heparin/PF4 Rapid Assay'), combined with the international distribution of products within its alcohol breathalyser franchise.

Increased turnover and a reduction in administrative expenses helped the group to narrow pre-tax losses from $4.63m to $1.2m. Loss per share fell to 1 cents, from 4 cents previously.

"2010 was a momentum-building year since the company's revenue and operating results significantly improved over those of 2009, and our development pipeline and subsequent commercialization efforts had numerous successes," said president and chief executive officer Thomas Nicolette.

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bc

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