TIDMEKF

RNS Number : 9905G

EKF Diagnostics Holdings PLC

26 November 2015

EKF Diagnostics Holdings plc

("EKF" or the "Company")

Trading update

EKF Diagnostics Holdings plc (AIM: EKF), announces a trading update for the 12 months to 31 December 2015.

As announced on 11 November 2015, Ron Zwanziger has joined the Board as Non-Executive Chairman and is undertaking a review of the business which is expected to complete before the end of the year.

The initial findings of the review are that the Company expects to achieve full year revenues of approximately GBP32 million. There are likely to be a number of items which will materially affect the Company's profit before tax for the year, including:

-- the partial or complete impairment of the Molecular division. Discussions regarding the divestment or closure of the Molecular division are still ongoing;

   --     a provision against, or write off of, specific debtors; and

-- the closure costs of the STI site in Sanford, which the Company announced on 12 November 2015.

The management team is making progress in realigning its cost base to with the goal of achieving positive cash generation in the early part of next year.

In the near term the Board composition will change to having two executives and five non-executives including some external additions. Following the sad passing of Kevin Wilson last week, David Evans has now been appointed Chair of the Audit Committee.

 
EKF Diagnostics Holdings plc                                 Tel: 029 2071 0570 
Ron Zwanziger, Chairman                                    Tel: +1 339 221 6282 
David Evans, Deputy Non-Executive                            Mob: 07740 084 452 
 Chairman 
Julian Baines, CEO                                           Mob: 07788 420 859 
Paul Foulger, CFO                                            Mob: 07710 989 255 
 
Panmure Gordon (UK) Limited                                  Tel: 020 7886 2500 
Robert Naylor (Corporate Finance) 
Paul Fincham (Corporate Finance) 
 
Walbrook PR Limited                    Tel: 020 7933 8780 or ekf@walbrookpr.com 
Paul McManus                                                 Mob: 07980 541 893 
Lianne Cawthorne                                             Mob: 07584 391 303

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 26, 2015 02:00 ET (07:00 GMT)

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