HyTest Ltd. is a biotechnology-orientated company based in Turku, Finland, that manufactures and markets high-quality immunological reagents for industrial and research applications. HyTest has customers across all continents. For the first half of the fiscal year 2011, HyTest reported revenues of EUR 5.4 million, an increase in comparison to the EUR 4.7 million reported for the corresponding period in 2010. Operating income remained high at EUR 2.1 million - accounting for 39 per cent. Thanks to continuing profitable growth, HyTest has been able to constantly expand its international operations.
During the first half of the fiscal year, the largest market for HyTest was the USA, representing 43 per cent of total sales despite the weak dollar. Other important markets were the EU countries (Great Britain 11 per cent and Germany 10 per cent) and Asia (China 6 per cent and Japan 6 per cent).
Sales of cardiac markers increased significantly during the period and there was especially remarkable growth in the sales of troponin-products. In addition, HyTest experienced a rise in the sales of infectious reagents and diabetes products. By contacting diagnostic companies actively and being visible in international scientific publications, HyTest has been able to grow profitably in the demanding global economic environment.