EKF Diagnostics Holdings plc (AIM: EKF), the point-of-care diagnostics business, announces its unaudited interim results for the six months ended 30 June 2013.
· Revenue up 17.7% to £14.89m (H1 2012: £12.65m)
· Adjusted EBITDA* up 51.6% to £2.12m (H1 2012: £1.40m)
· Cash generated from operations of £1.56m (H1 2012: £0.15m)
· Cash at 30 June 2013 was £3.14m after deferred consideration payments of £1.43m (31 December 2012: £4.33m)
* Before exceptional items and share based payments
· Quo-Lab and Quo-Test organic revenue growth of 115% from H1 2012
· Hemo Control/HemoPoint organic revenue growth of 15% from H1 2012
· Biosen product line organic revenue growth of 24% from H1 2012
· Management restructure including promotion of Richard Evans to COO
Commenting on outlook, David Evans, Executive Chairman of EKF, said: “With an encouraging start to the second half of the year, and performance in line with management expectations we look forward to the rest of the year with confidence, supported in particular by an increasing contribution from Quo-Lab sales worldwide through our distributors and OEM partners as well as HemoPoint H2 sales through the Alere agreement in North America. In line with our stated strategy we will continue to identify and evaluate suitable acquisition opportunities.”
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