EKF Diagnostics Holdings PLC Trading update (1951N)

TIDMEKF

RNS Number : 1951N

EKF Diagnostics Holdings PLC

16 January 2019

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 EBITDA(1) 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 GBP9.4m (31 December 2017: GBP7.0m net cash), which is after a GBP3.1m investment in Renalytix AI PLC and share buybacks of almost GBP0.9m.

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: [phone] 
     Julian Baines, CEO 
     Richard Evans, FD & COO 
 
     N+1 Singer (Nomad & Broker)                                 Tel: [phone] 
     Aubrey Powell / Lauren Kettle / George Tzimas 
      (Corporate Finance) 
      Tom Salvesen (Corporate Broking) 
 
     Walbrook PR Limited Tel: [phone] or [e-mail] 
     Paul McManus/ Lianne Cawthorne                      Mob: [phone] / 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.

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January 16, 2019 02:00 ET (07:00 GMT)