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RNS Number : 2278M
MyHealthChecked PLC
20 September 2021
The ' Statement re. COVID-19 testing' announcement for MyHealthChecked plc released on 17 September 2021 at 17:50 under RNS No 2130M has been re-released in the interests of market clarity.
The announcement text is unchanged and is reproduced in full below.
MyHealthChecked plc
("MyHealthChecked" or "the Company")
Statement re. COVID-19 testing
MyHealthChecked Plc (AIM: MHC), the consumer home-testing healthcare company, notes the recent Government statement regarding measures to simplify international travel.
As announced in the 7 July Trading update H1 revenues dramatically increased to £3.27m (H1 2020: £12,700) driven by COVID-19 testing services. This trend has continued into Q3 with monthly testing volumes exceeding those seen in the final two months of H1. Further information on Q3 trading will be provided in the results statement scheduled for Wednesday 29 September 2021.
Whilst the Government has announced the removal of Day 2 testing from an October date to be confirmed, the Directors remain confident that monthly testing volumes will remain a significant contributor to growth throughout the remainder of the financial year, even with levels naturally lower than the peak levels seen around summer holiday period. These revenues are still expected to contribute significantly to the results for the financial year ending 31 December 2021 and the Directors remain very optimistic about the business prospects for the full year.
The requirements surrounding PCR testing for out-bound travel, the "Fit to Fly" scheme, have not changed and Directors expect to see these volumes continuing. The Directors also expect that these newly announced changes to international travel will encourage more people to travel abroad from the UK, and that this will contribute to a rise in out-bound testing volumes.
As already stated, the Company's genomic testing service has been focussed on its COVID-19 testing offering, however it provides the foundation to create a wider portfolio of easy to use DNA tests over the longer-term. MyHealthChecked plc has a strong pipeline of genetic tests outside of COVID-19 to ensure long-term sustainable revenue growth.
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