Medical firm Trinity Biotech has reported third-quarter pre-tax profits of $1.4 million (€1.44 million) compared with $1.28 million a year earlier.Revenues in the three months to the end of September also rose, increasing by 45 per cent to $13.8 million from $9.5 million a year earlier, slightly ahead of expectations.

The growth in sales reflected organic growth in certain product lines, the acquisition of Biopool Hemostasis last November and a five-week contribution from its latest acquisition, Sigma Diagnostics, Trinity Biotech said.

However, revenue and profit growth was offset by a higher level of selling, general and administrative expenses which rose to $2.9 million from $2.1 million a year earlier. This was mainly due to the expansion of the company's direct sales operations in the US and German marketplaces.

Research and development costs also increased, to $1.3 million from $0.7 million, as a result of development activity in infectious disease and haemostasis reagents and instruments.

The company's shares closed unchanged at €1.00 last night.