EKF Diagnostics Holdings PLC Trading update (5878T)
January 09 2017 - 1:00AM
UK Regulatory
TIDMEKF
RNS Number : 5878T
EKF Diagnostics Holdings PLC
09 January 2017
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
GBP38m (compared to previous guidance of "at least GBP36.5m") for
the year and adjusted EBITDA comfortably exceeded GBP5.5m (compared
to previous guidance of "at least GBP5.5m"). 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 GBP1.6m.
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 Tel: 029 2071 0570
Chairman
Julian Baines, CEO
Richard Evans, FD & COO
Panmure Gordon (UK) Limited Tel: 020 7886 2500
(NOMAD & Joint Broker)
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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