EKF Diagnostics Holdings PLC Trading Update (3139L)
January 12 2021 - 01:00AM
UK Regulatory
TIDMEKF
RNS Number : 3139L
EKF Diagnostics Holdings PLC
12 January 2021
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 expected to be comfortably ahead of
upgraded market consensus
Q1 2021 performance to materially exceed management
expectations
EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed
point-of-care business, confirms that continued strong trading will
result in the performance for the year ending 31 December 2020
being comfortably ahead of already upgraded market
expectations.
Trading in the core business in the final quarter has continued
to improve significantly and ongoing demand for the PrimeStore MTM
COVID-19 sample collection device remained strong through to the
end of the year and will continue to do so into the first quarter
of 2021. Following the payment of the dividend of GBP4.6m in
December 2020, the earlier investment of GBP3.8m in Trellus Health
Limited, and the proceeds from the sale of Renalytix AI plc shares
of GBP7.7m, the Company's net cash at 31 December 2020 was in
excess of GBP21m. The Company will pay a dividend again in December
2021 and expects to implement a progressive dividend policy.
With continued strong performance in the core business and a
number of indicative orders for PrimeStore MTM for the first
quarter 2021 that are likely to be realised, the Board is confident
that performance for the first quarter of 2021 will be materially
ahead of current management expectations, and the first quarter of
2020.
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 or ekf@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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END
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