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EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, announces its unaudited interim results for the six months ended 30 June 2017.
- Revenue up 22.8% to £21.50m (H1 2016: £17.51m)
- Gross profit up 40.6% to £11.84m (H1 2016: £8.42m)
- Adjusted EBITDA* up 126.7% to £4.58m (H1 2016: £2.02m)
- Cash generated from operations of £5.07m (H1 2016: £1.35m).
- Net cash £4.44m (30 June 2016: net debt of £4.28m), (31 December 2016: net cash of £2.16m)
* Before exceptional items and share based payments
- Streamlined the Group successfully reducing the cost base
- Poland manufacturing facility closed and business transferred to the factory in Barleben, Germany
- The company has 7 sites in total, from a peak of 12
- Improved performance across every business area due to organic growth
- Sold 7,496 analysers and c.34m tests during the first half of 2017
- Investment in enzyme manufacturing technology at EKF Life Sciences, USA.
Commenting on outlook, Christopher Mills, Non-Executive Chairman of EKF, said:
“By following the business plan we set out of simplifying and streamlining the company, the Board is pleased to report continued good progress in the first half of 2017, illustrated by improved performance across every business area. It remains the Board’s intention to tightly control costs and therefore the Board is comfortable that current trading is in line with management expectations for 2017."
|EKF Diagnostics Holdings plc
Julian Baines, CEO
Richard Evans, FD & COO
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