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15 Jul 2019 | 09:03

EKF Diagnostics expects earnings to top its expectations amid 'tight' cost control

EKF Diagnostics, the AIM-listed point-of-care business, said earnings would top its expectations amid 'tight' cost control.

Sales were in line with market forecasts, but tight cost control had meant that adjusted earnings (EBITDA) for the six months ended 30 June 2019 was ahead of management expectations, EKF said. The outlook for the second half is encouraging and revenues were expected to show continuing momentum over the balance of the year, in part due 'to the contribution from the OEM contract with McKesson Medical-Surgical Inc. for the distribution of Diaspect Tm in the US and the enzyme business with Oragenics,' EKF added.

Net cash and marketable securities as at 30 June 2019 were also slightly ahead of management expectations and were approximately £15m. 'The Board now intends to recommend a dividend of 1p per share in respect of the financial year ended 2019 which will be subject to shareholder approval at the next Annual General Meeting ("AGM") to be held in H1 2020,' the company said. EKF said it expected to announce its results for the six months ended 30 June 2019 in the first half of September 2019.

At 9:03am: (LON:EKF) EKF Diagnostics Holdings PLC share price was +1.8p at 36.3p

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