TIDMEKF

RNS Number : 8833A

EKF Diagnostics Holdings PLC

02 October 2020

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 in-line with management expectations

October expected to be a record month for both PrimeStore MTM and core business sales

PHE study: PrimeStore MTM only commercially available reagent able to inactivate SARS-CoV-2

EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, announces that trading in October is expected to demonstrate continued and strong overall growth, and that full year performance remains in-line with management expectations, which have already been revised upwards several times this year.

A significantly improved performance in the core business based on October orders underpins the Board's confidence of an H2 recovery. This, combined with continued orders for the PrimeStore MTM COVID-19 sample collection device, means that October is expected to be a record month for EKF in terms of revenues and profits.

The Company is also pleased to note that PrimeStore MTM was successfully evaluated for effective SARS-CoV-2 inactivation in a study published by Public Health England (PHE). The study showed that of the few transport reagents, from the 23 tested, where no residual virus was detectable, PrimeStore MTM is the only commercially available CE-marked and FDA cleared transport media. For more information visit:

https://www.ekfdiagnostics.com/primestore-mtm-evaluated-by-public-health-england-for-sars-cov-2.html

The PrimeStore MTM sample collection device deactivates viruses, bacteria, fungi and mycobacterium tuberculosis allowing safe sample handling and transport, greatly reducing risk of infection. 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. In the case of COVID-19, by deactivating the virus testing can now take place outside of containment facilities, opening up capacity in more testing laboratories. With the flu season approaching, the PrimeStore MTM can also safely collect flu and COVID-19 samples in the same collection kit.

Due to the continued demand for PrimeStore MTM and the improving performance of our core business the Board remains confident of delivering on the strong full year performance reflected in previously revised management expectations. Whilst it is too early to make further revisions to these performance expectations, trading in October is expected to suggest a strong Q4 performance. The Company intends to provide a further update on trading in early November.

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTVFLFBBBLBFBF

(END) Dow Jones Newswires

October 02, 2020 02:00 ET (06:00 GMT)

Ekf Diagnostics (LSE:EKF)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Ekf Diagnostics Charts.
Ekf Diagnostics (LSE:EKF)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Ekf Diagnostics Charts.