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MHC Myhealthchecked News Story

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REG - MyHealthChecked PLC - Trading update

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RNS Number : 3575V  MyHealthChecked PLC  13 December 2021

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

MyHealthChecked plc

("MyHealthChecked" or "the Company")

 

Trading update

Full year results to meet or exceed higher end of expectation range

 

MyHealthChecked Plc (AIM: MHC), the consumer home-testing healthcare
company, provides an update on trading for the year ending 31 December 2021,
which is expected to exceed the higher end range of current market
expectations for EBITDA, and meet the higher end range of current market
expectations for turnover.

 

As announced on 29 September 2021, MyHealthChecked experienced strong trading
in Q3 delivering further revenue growth, a move into a positive EBITDA
position and quarterly cash generation for the first time.

 

Despite an anticipated quieter fourth quarter, given that travel volumes are
traditionally lower over that period, high levels of demand for the recently
reinstated PCR Day-2 test kits and associated laboratory services have
resulted in further strong trading in Q4. The Board is now confident that the
full year revenues will be around £16m (FY 2020: £49.5k) and deliver an
adjusted EBITDA profit of at least £2.1m (FY 2020: £2.7m loss). The business
will be cash generative for the year and the Board expects cash balances to be
at least £4.6m at the end of the year (31 Dec 2020: £0.47m).

 

The current expectations, available to the market ahead of this trading
update, can be viewed here:

http://www.sealadvisors.com/MHC_Oberon_SEAL_12102021_final.pdf
(https://urldefense.proofpoint.com/v2/url?u=https-3A__gbr01.safelinks.protection.outlook.com_-3Furl-3Dhttps-253A-252F-252Fprotect-2Deu.mimecast.com-252Fs-252FvWa3CkwkQur8PS2or0a-253Fdomain-253Dsealadvisors.com-26data-3D04-257C01-257C-257C5d228ac9325241b6751708d9bcb169b2-257C59f05fa3b0344b7b9127c7bde0e8472e-257C0-257C0-257C637748293335984040-257CUnknown-257CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0-253D-257C3000-26sdata-3DeebWJTFJ3C5eoQtfno-252B4tJ8c4HH6zEwJvScBh1E3qSc-253D-26reserved-3D0&d=DwMFaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=fSst1AtlXyuqcs3cHJXcCRilbI1Qm1WfjNYkVgQfiLE&m=bZH0KuVywkyYGAurOXL3f6fu00EtR09iI1HSQp9Wq-c&s=0Wq-N5tiSG4WZOPIsEg7poJFXFdqay4UuLsgFthUQKA&e=)

 

This new guidance from the Company assumes that there will be no material
changes to COVID restrictions imposed by the UK Government over the next two
weeks, which might significantly impact the ability for passengers to travel
in or out of the UK. The Company will provide a further update on year end
trading in mid-January 2022.

 

Penny McCormick, Chief Executive Officer of MyHealthChecked Plc, said: "The
commercial progress that we've made during the last year has been
extraordinary and a real credit to the hard work of our growing team. As well
as having a significant positive impact on our financial performance in 2021,
this has provided us with a strong base from which to develop our extended
product pipeline ready for commercialisation next year.

 

"We have established strong commercial partnerships with both of the UK's top
pharmacy retailers and executed on a business development strategy across
direct to consumer, retail and B2B channels. Next year we look forward to
launching an initial portfolio of home wellness tests alongside our enhanced
digital platform, providing indications around weight management, vitamin
deficiency, food intolerances, heart health and blood glucose and expect these
tests and accompanying digital outputs to be the first in a new portfolio of
long-term growth drivers for our business."

 

For further information contact:

 

 MyHealthChecked plc                                                www.myhealthchecked.com (http://www.myhealthchecked.com)
 Penny McCormick, Chief Executive Officer                           via Walbrook PR
 Gareth Davies, Chief Financial and Operations Officer

 SPARK Advisory Partners Limited (NOMAD)                            Tel: +44 (0)20 3368 3550
 Neil Baldwin

 Oberon Capital Ltd (Broker)                                        Tel: +44 (0)203 179 5344
 Mike Seabrook                                                      mikeseabrook@oberoninvestments.com (mailto:mikeseabrook@oberoninvestments.com)

 Walbrook PR Ltd (Media & IR)      Tel: +44 (0)20 7933 8780 or myhealthcheckedplc@walbrookpr.com
                                   (mailto:myhealthcheckedplc@walbrookpr.com)
 Paul McManus / Alice Woodings                                      Mob: +44(0)7980 541 893 / +44 (0)7407 804 654

 

 

About MyHealthChecked PLC (www.myhealthcheckedplc.com
(http://www.myhealthcheckedplc.com) )

MyHealthChecked PLC, based in Cardiff, is an AIM-quoted pioneering UK
healthcare company focused on a range of at-home healthcare and wellness
tests.

 

MyHealthChecked is the umbrella brand of a range of at-home DNA and RNA tests,
now in development following the acquisition of The Genome Store in November
2020. The tests will be made available online, and would be viable for over
the counter purchase.

 

The MyHealthChecked portfolio has been identified as part of a change in
mindset as customers become more familiar with the concept of accessible
healthcare in the growing at home testing kit market with a focus on
accessibility at the right price, led by UK-based experts.

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