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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January 09, 2017 02:00 ET (07:00 GMT)

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