Amersham feels currency pain

WEAKNESS in the US dollar and the costs of site closures and restructuring hit medical equipment group Amersham to the tune of £29m in the six months to June. Over the full year, that is expected to grow by £11m.

The healthcare group has also taken a £41m charge following the restructuring of its Discovery Systems unit, although it is expecting tax relief of £15m.

Despite the ravages of exchange rates, pre-tax profits before exceptionals and goodwill at the interim stage were up 8% at £140m on the back of an 8% improvement in sales to £808m.

Sales of Vispaque, used in body scans, increased 32%, partly because it is less likely to cause kidney damage than similar products.

The group has seven products in Phase III trials, with the expectation they will be in use by 2005-06 to diagnose mainly heart and cancer problems.