Randox, which was a major provider of Covid-19 tests, sees fall in profits from 2021 record high.
Accounts for the business shows a fall in pre-tax profits after the national Covid testing programme came to an endRandox, a major provider of Covid-19 tests, made a pre-tax profit of £190m in 2022,During this period, the County Antrim firm was still performing Covid tests under the government's National Testing Programme.It added that private testing continued beyond the end of the financial year, though "at much reduced numbers".
Group turnover was up from £619m in 2021 to £626m in 2022, but the lower profits reflected higher costs and expenses. Between January 2020 and December 2021, the UK's Department of Health awarded 22 contracts to Randox, or its strategic partner, with a maximum value of £777m.National Audit Office over concerns about lobbying and contracts awarded without competitive tenderingThe NAO concluded that it had "not seen any evidence that the government's contracts with Randox were awarded improperly".
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