Last checked at 9 Jan 2017 07:00
EKF Diagnostics Holdings plc
("EKF", the "Company")
Trading update
EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, announces that trading in the final quarter of the year ended 31 December 2016 was materially better than budget and that the overall performance for the year will exceed revised market forecasts, recently upgraded following the trading update provided on 7 November 2016.
The Company can confirm that it achieved revenues in excess of £38m (compared to previous guidance of "at least £36.5m") for the year and adjusted EBITDA comfortably exceeded £5.5m (compared to previous guidance of "at least £5.5m"). The strong performance during the final quarter is entirely due to organic growth.
In addition, the Company announces that cash generation during the final quarter continued to be strong. The Company was net cash positive by the year end, and expects to remain cash positive in the first quarter of the 2017 financial year. The Company has used some of the cash generated during the final quarter to reduce its debt position by approximately £1.6m.
The announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
EKF Diagnostics Holdings plc | www.ekfdiagnostics.com |
Christopher Mills, Non-Executive Chairman | Tel: 029 2071 0570 |
Julian Baines, CEO | |
Richard Evans, FD & COO | |
Panmure Gordon (UK) Limited (NOMAD & Joint Broker) | Tel: 020 7886 2500 |
Freddy Crossley / Peter Steel (Corporate Finance) | |
N+1 Singer (Joint Broker) | Tel: 020 7496 3000 |
Alex Price / Alex Laughton-Scott | |
Walbrook PR Limited | Tel: 020 7933 8780 or ekf@walbrookpr.com |
Paul McManus / Lianne Cawthorne | Mob: 07980 541 893 / 07584 391 303 |