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16 Jan 2019 | 08:33

EKF Diagnostics expects earnings to 'comfortably' top market expectations

EKF Diagnostics said Wednesday it expected adjusted earnings (EBITDA) would be 'comfortably ahead' of market expectations as it continued to make significant progress on in delivering on its strategy. 'The company announces that adjusted EBITDA for the year ended 31 December 2018 is expected to be comfortably ahead of market expectations,' EKF said. Cash generation in the second half had been 'very strong' with net cash at the end of the year of £9.4m, up from £7.0m last year, following the £3.1m investment in Renalytix AI and share buybacks of almost £0.9m, the company said.

The outlook in 2019 was 'positive' as the company aimed to benefit from the groundwork laid in 2018, including a full-year contribution from the OEM contract with McKesson-Surgical for the distribution of Diaspect Tm in the US and the enzyme business with Oragenics.

At 8:33am: (LON:EKF) EKF Diagnostics Holdings PLC share price was +2.25p at 33.55p

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