EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, provides an update on current trading.
The Company announces that despite currency headwinds the earnings are marginally ahead of management expectations and we remain confident that we will achieve further progress over the balance of the year. During the first half EKF has made significant headway in delivering the strategy mentioned at the time of the results:
- Diaspect Tm has received FDA 510k CLIA clearance
- Following significant investment in our Elkhart enzyme facility we have announced the multi-million dollar enzyme contract with Oragenics, Inc
- We have announced an exclusive distribution contract in the US with Asahi Kasei Pharma Corp for their FDA cleared Glycated Albumin products. This will support our diabetes strategy within the US
- We have signed an OEM contract with McKesson-Surgical Inc. which gives exclusive rights for the distribution of Diaspect Tm in all markets in the United States with the exception of blood banks. McKesson is the largest distributor of haemoglobin products in the US. We expect that this will significantly strengthen our position in North America and has the potential to add meaningfully to our sales over the medium term.
- Quo-Test® has been submitted for FDA clearance
Finally, despite significant investment in our operations worldwide cash generation has been very strong with net cash at 30 June of approximately £9.0m compared with £4m on 30 June 2017.
|EKF Diagnostics Holdings plc
Julian Baines, CEO
Richard Evans, Finance Director and COO
Tel: 00 44 29 2071 0570
|N+1 Singer (Nomad & Broker)
Aubrey Powell / Shaun Dobson
|Tel: 020 7496 3000
Walbrook PR Limited
|Tel: 020 7933 8780 or
Mob: 07980 541 893 / 07584 391 303