Last checked at 16 Jan 2019 07:00
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).
EKF Diagnostics Holdings plc
("EKF", the "Company")
Trading update
EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, provides the following trading update.
The Company announces that adjusted EBITDA1 for the year ended 31 December 2018 is expected to be comfortably ahead of market expectations which had been upgraded during the period. In addition, cash generation in the second half has been very strong with net cash at the end of the year of £9.4m (31 December 2017: £7.0m net cash), which is after a £3.1m investment in Renalytix AI PLC and share buybacks of almost £0.9m.
In 2018 EKF continued to make significant headway in delivering on its strategy. The outlook for the Company in 2019 is positive as it looks to benefit from the groundwork laid in 2018, including a full-year contribution from the OEM contract with McKesson-Surgical Inc. for the distribution of Diaspect Tm in the US and the enzyme business with Oragenics, Inc.
1 Earnings before interest, tax, depreciation and amortisation, excluding exceptional items and share based payments.
EKF Diagnostics Holdings plc | www.ekfdiagnostics.com |
Christopher Mills, Non-Executive Chairman | Tel: 029 2071 0570 |
Julian Baines, CEO | |
Richard Evans, FD & COO | |
N+1 Singer (Nomad & Broker) | Tel: 020 7496 3000 |
Aubrey Powell / Lauren Kettle / George Tzimas (Corporate Finance) Tom Salvesen (Corporate Broking) | |
Walbrook PR Limited Tel: 020 7933 8780 or ekf@walbrookpr.com | |
Paul McManus/ Lianne Cawthorne | Mob: 07980 541 893 / 07584 391 303 |
About EKF Diagnostics Holdings plc (www.ekfdiagnostics.com)
EKF is a leading point-of-care diagnostics and central laboratory assay manufacturer with an estimated 80,000 hemoglobin, hematocrit, HbA1c, glucose and lactate analyzers in regular use across more than 100 countries. EKF specializes in developing tests for use in anemia and diabetes diagnosis and management, as well as providing a portfolio of reagents for use in clinical chemistry analyzers.