EKF Diagnostics Hldg - Trading update

EKF Diagnostics Holdings

09/11/2020 07:00

RNS Number : 5893E

EKF Diagnostics Holdings PLC

09 November 2020

 

 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" or the "Group")

 

Trading update

 

Full year performance to further exceed market consensus

 

EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, announces that strong trading in October, combined with expected orders for the remainder of the year, will result in full year performance ahead of market expectations, which have already been revised upwards several times this year.

 

A significantly improved trading in the core business in the final quarter, along with continued orders for the PrimeStore MTM COVID-19 sample collection device underpins the Board's confidence of a strong full year performance.

 

EKF now expects to deliver Group revenues and adjusted EBITDA for the year ending 31 December 2020 comfortably ahead of market consensus, with expectations currently set at £60m for revenues and adjusted EBITDA of £23m.

 

 

The persons responsible for arranging the release of this Announcement on behalf of the Company are Julian Baines, CEO, and Richard Evans, FD and COO respectively.

 

EKF Diagnostics Holdings plc
www.ekfdiagnostics.com
Christopher Mills, Non-executive Chairman
Tel: +44 (0) 29 2071 0570
Julian Baines, CEO
Richard Evans, FD & COO
N+1 Singer
Tel: 020 7496 3000
Aubrey Powell / George Tzimas (Corporate Finance)
 Tom Salvesen (Corporate Broking)
Walbrook PR Limited
Tel: +44 (0) 20 7933 8780 orekf@walbrookpr.com
Paul McManus / Lianne Cawthorne
Mob: +44 (0) 7980 541 893 / +44 (0) 7584 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.

 

About PrimeStore MTM

Global demand for the PrimeStore MTM sample containment device has increased significantly due to COVID-19. The device was invented in 2006 in preparation for a worldwide pandemic and is designed to de-activate pathogen rapidly and stabilise the RNA for up to four weeks with no requirement for cold storage. This approach also allows samples to be tested by a greater number of laboratories, as the handling risks for the deactivated virus are reduced.

 

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