Absolutely. Just to add to what Mornington said, A diverse portfolio is a safer portfolio. Always expect the unexpected.
Interim Results are due on 29 September going by https://investors.myhealthchecked.com/investors/financial-calendar.
So I would assume by the end of the month.
Great news although I would guess has already been priced in as this has been leaked for a while.
But what this does mean apart from the added credibility is that our test should now be valid for travel to Barbados, China, Hong Kong, Jamaica, Jersey or St Kitts and Nevis!
Just wondering has anybody been able to visit a Lloyds Pharmacy to see if our test is on the shelves of their stores? We are aware that they are being sold on the online store but not necessarily in branches.
I have been trying to keep an eye out for a Lloyds when out and about but have yet to stumble upon one this weekend. I will venture to check sometime during the week but thought I would see if anybody else had visited on here?
Good article here for us. Have a great bank holiday all!
"Abingdon Health and MyHealthChecked reap rewards from the fight against Covid-19"
https://www.thisismoney.co.uk/money/markets/article-9932913/SMALL-CAP-MOVERS-Abingdon-Health-MyHealthChecked-reap-rewards-fight-against-Covid-19.html
I would say +30% on something which we know very little details of and with no official RNS is quite promising. Especially given the fact the market still seems to be hesitant around what are labelled as 'COVID stocks'
Interim results are due 22nd September. Whether a trading update comes before that is anyone's guess.
Should also mention that for those who don't know he is a holder in MHC and has made several positive comments about MHC, particularly in the past few weeks. He also expects very positive figures when the trading update comes although I think we all know that to be the case.
TW mentioned he has reported MHC to Aim Regulation for breaching Aim Rules 10 & 11 by failing to update the market on the Lloyds news & suspicions that MHC board are holding back the RNS relating to the Lloyds deal due to the upcoming bank holiday and want the RNS to have the most impact.
If that is true that the MHC board are waiting for the bank holiday to come and go then yes that is a bit naughty but I cant complain. But I also cannot criticise TW for being consistent on regulation.
PR has been a constant criticism from many of us about MHC for many different reasons and I think if this report is taken by Aim Regulation and they find MHC breaching the rules then hopefully it is the much needed wake up call that MHC has needed.
In what should be seen as more welcome news for MHC, our health secretary has just quote tweeted the following in response to the CMA statement on an open letter to PCR test providers who "breach consumer protection law".
Javid writes:
"It's unacceptable for any private testing firm to take advantage of holidaymakers & we're working with
@CMAgovUK
to clamp down further on cowboy practices.
I welcome their warning that testing firms could face enforcement action for misleading consumers."
https://twitter.com/sajidjavid/status/1430876706634612741
Well done to all the fellow LTH here. We all know how dreadful the last few months have been here but we always knew that this would come to fruition and I personally think this is just the start!
Great RNS today and thanks Weathergeek for that info. I've got my fingers crossed that today's RNS should signal a flurry of news in the course of the next month.
Assuming the UKAS accreditation does get approved (looks like it's going to be by the 30th now since the date changed) then that will hopefully be its own RNS.
Then we are expecting a fabulous trading update probably towards the end of September imo. Following that hopefully, towards the end of the year we can get updated on how we are doing with the non-COVID business plan.
+10% on today's news (which I assumed was taken as fact anyway) which has been our best day in a long time. Assuming the UKAS accreditation get's an RNS it should be received similarly well.
Nearly all of the short-term worries about this company (of which there are very few) are being shot down one by one now.
A strange but possibly beneficial expansion from traditional food delivery?
"You can now get a mascara delivered to your front door via Deliveroo, as well your go-to curry.
As of today, Boots has launched a pilot partnership with Deliveroo to make the delivery of health and beauty products faster.
After reporting an increase of online sales by 85% during the height of the pandemic and all lockdowns, Boots are looking to bridge some of the gap that’s been created by the public’s surge in online shopping.
Initially, 14 stores will be included in this offering, with major cities like London, Edinburgh and Nottingham being covered."
https://metro.co.uk/2021/08/24/boots-launches-new-partnership-with-deliveroo-15142971/
Interestingly the date on the notice on the website has changed from (Monday) August 23rd to (Monday) August 30th...
"Prior to August 30th 2021, our kits will not be valid for travel to Barbados, China, Hong Kong, Jamaica, Jersey or St Kitts and Nevis"
This is probably already known but thought I would share here either way. I noticed a message on the product page which I hadn't seen before (MHC website) for the Fit-To-Fly PCR test:
"Prior to August 23rd 2021, our kits will not be valid for travel to Barbados, China, Hong Kong, Jamaica, Jersey or St Kitts and Nevis"
I wasn't aware that the PCR test wouldn't be accepted for travel to some countries, so I enquired and emailed MHC's customer care email address. I emailed at 6 pm yesterday evening and got a response by 6:19 the same day, very impressed - I wish their investor PR was this responsive - they replied with the following:
"MyHealthChecked is on the Government list of private providers for Test to Release, Day 2 & Day 8 testing and general Covid-19 testing.
We are undergoing UKAS accreditation and have demonstrated compliance with the applicable standards, as we progress through the accreditation process. To date, we have passed Stage 1 and Stage 2 of a 3-stage process.
We operate under ISO 15189 standards and have demonstrated compliance as assessed by our successful UKAS Stage 2 assessment.
This means our kits are not currently suitable to use to travel to the listed countries. Apologies for the inconvenience. "
I followed up and asked if this meant that the company would be UKAS accredited by the 23rd of August and they replied with the following:
"Yes, our lab will be UKAS accredited by this date." - on a side note, unfortunately this was still through the email support ticket system and they didn't reply within 24 hours on this one and I had to prod them again for an update. However, they responded within 16 minutes of my prodding email.
It's a shame we lost out on the key holiday destinations of Jersey, Barbados & Jamaica during the summer period and of course the all important business destination of China. But it is good news that we will be fully accredited on Monday.
We held up surprisingly well today given the general state of the wider markets especially in the current context of the state of MHC. Of course, this price is still depressingly under where I assume many of us believe it should be but hopefully, with August coming to an end we can enter the last month of Q3 knowing there's should be a pretty healthy trading update coming soon.
He just slashed the cost of the day 2 and 8 NHS provided PCR tests in an effort to incentivise lower prices across the market (the NHS tests are now cheaper than the average £75).
He's also launched a 10 day review (starting 14th August) of all 400+ providers with a threat to remove companies from the approved list who "fail to meet the Government requirements".
He's stated there will be no price cap despite many backbenchers demanding one. I personally think that indicates we won't see VAT relief either which to me is disappointing but unsurprising.
“ I know how much people have looked forward to their summer holidays and I am pleased to announce that with immediate effect we’re slashing the price of day 2 and 8 PCR tests from NHS Test & Trace by a fifth.
Too many providers are acting like cowboys and that needs to stop.”
https://twitter.com/sajidjavid/status/1426446910609629186?s=21
Agreed Weather, I struggle to believe the Javid announcement could be responsible for the price action today, but perhaps I'm being too generous to the market.
MHC is one of the best, if not THE best PCR providers in the country. We didn't land a contract with the flagship retailer that is Boots for no reason. We are one of the best priced, with great trust-pilot reviews & regularly working closely with UCAS on compliance (a point Penny was very adamant to emphasise in today's interview).
“ People should be able to go on holiday, whether it's to see family or just to relax, without fearing excessive fees for PCR tests.
That’s why I’ve asked the independent @CMAgovUK to see how we can crack down on unfair market practices”
https://twitter.com/sajidjavid/status/1424340486651850755?s=21
https://www.thetimes.co.uk/article/watchdog-to-investigate-rip-off-covid-tests-vwtbnqzrq
I wonder if there's something in the MHC packaging encouraging people to review. Either way very good to see no matter what the reason for people doing it :)