Bid costs hit profits at Doctors Lab

The Doctors Laboratory, the provider of clinical pathology services, in its report and financial statements for the year ended 30 June 2102, showed turnover was up to £50.9m (2011: £41.3m). Cost of sales was £35.6m (2011: £25.5m). Administrative expenses were £7.4m (2011: £6.4m), which along with other operating income of £584,000 (2011: £411,000) and interest payments of £146,000 (2011: £132,000) led to a profit before tax of £8.3m (2011: £9.7m). The directors say: We have experienced increased activity in the NHS pathology opportunities, and the resulting increase in bid costs has led to the reduction in after tax profits. These tenders are complex and can take between one and two years to finalise.