EKF Diagnostics Holdings PLC Trading update (2228B)
29 January 2020 - 6:00PM
UK Regulatory
TIDMEKF
RNS Number : 2228B
EKF Diagnostics Holdings PLC
29 January 2020
This announcement contains inside information
for the purposes of Article 7 of Regulation (EU) No 596/2014
(MAR).
EKF Diagnostics Holdings plc
("EKF" or the "Company")
Trading update
EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed
point-of-care business, provides the following the trading update
for the year ended 31 December 2019.
The Company confirms that revenues and adjusted EBITDA(1) for
the year ended 31 December 2019 are in line with market
expectations, which have already been upgraded following previous
trading updates, as announced on 6 November 2019. Cash generation
during the period was strong, with net cash at year-end of
GBP11.4m, after the payment of performance bonuses (31 December
2018: net cash GBP9.4m).
Renalytix AI plc (AIM: RENX), the spin out from EKF which
floated in November 2018, has continued to perform well. As at 31
December 2019, EKF held marketable securities (2,677,981 RENX
shares) at approximately GBP9.17m at fair value (compared to book
value at cost of investment of GBP3.24m).
2019 has seen the Company continue its momentum by delivering on
its strategic goals and the Board is confident that this progress
will continue into 2020. Further upside is expected from the OEM
contract with McKesson-Surgical Inc. for the distribution of
Diaspect Tm in the US and the enzyme manufacturing business with
Oragenics, Inc.
EKF expects to announce its final results for the year ended 31
December 2019 at the end of March 2020, with the date to be
confirmed in a subsequent announcement.
(1) Earnings before interest, tax, depreciation and
amortisation, excluding exceptional items and share based
payments.
The person responsible for making this announcement on behalf of
the Company is Julian Baines.
Enquiries:
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 / George Tzimas / Carlo Spingardi
(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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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