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Optos: World-leading Fife retina scanning company eyes growth after record sales

An Optos device being made.
An Optos device being made.

A Fife firm which sells retina scanning devices around the world has set its sights on further growth after record sales.

Dunfermline-based Optos makes machines capable of scanning the outermost edges of the retina.

The firm saw sales fall last year because of the Covid-19 pandemic.

But newly filed accounts for the year ending March 31 show a revenue increase of $16 million to $133.7m.

Pre-tax profits rose by more than $11m to $36.5m.

The wider group of Optos companies recorded sales of $223m, a rise of 8%.

Sales increase shows Optos recovery

Optos chief executive Rob Kennedy said: “After a difficult start to the year, the business has recovered extremely well.

“This is testament to the resilience of the business and the Optos team.

“We’re very thankful for all their hard work and dedication.

“We supported our customers throughout and positioned our offering to meet their changing needs in this new environment.

The firm manufactures retina scanning machines.

“As a result we increased our exports and had our strongest year ever in the UK including record sales in Scotland to optometrists and the NHS.

“We now employ more than 220 people in our product development and manufacturing base in Dunfermline.

“We are continuing to grow the team here to support the future growth of the business.”

Optos took advantage of government support schemes when the pandemic hit.

However, Mr Kennedy said this money had now been repaid in full.

Optos committed to continual investment

The firm was founded by Douglas Anderson in 1992.

He set the firm up after his young son went blind in one eye after a retinal detachment was detected too late.

The company was acquired by Japanese camera company Nikon in 2015.

Optos remains the only firm that can take an ultra-wide 200 degree image of the retina in a single capture.

The firm manufactures between 2,500 and 3,000 devices a year in Dunfermline.

It pledged to continue its programme of research and development spend, with more than $12.5m invested last year.

“The directors are pleased with the progress being made in terms of the future product roadmap,” the firm said.

Optos employs more than 200 people in Dunfermline.

“The risk that a third party may produce a more advanced product with improved functionality, or a similar device with a lower cost, is constant.

“The company is committed to continual investment in research and development, developing the quality and functionality of its products, and in clinical studies to demonstrate the clinical efficacy and superiority of its devices.”

The firm serves its global supply chain from its base in Queensferry House in Dunfermline and Marlborough in the USA.