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10 Sep 2019 | 09:44

EKF Diagnostics earnings tops expectations in H1 on tight cost control

EKF Diagnostics said half-yearly earnings topped management's expectations as tight cost control helped boost growth. The company also said it would pay its maiden dividend after the annual general meeting due in the first half of the 2020, subject to shareholder approval. For the six months ended 390 June, pre-tax profit rose to £2.2m from £1.7m and revenue was up 5.3% to £21.44m. Earnings (EBITDA) rose 13.9% to £5.58m, ahead of management expectations. 'The outlook for the second half is encouraging with Q3 trading to date in line with management expectations,' the company said. 'Revenues are expected to show continuing momentum over the balance of the year, in part due to the increasing contribution from the OEM contract with McKesson Medical-Surgical Inc. for the distribution of DiaSpect Tm in the US and further growth from the enzyme business with Oragenics,' it added.

At 9:44am: (LON:EKF) EKF Diagnostics Holdings PLC share price was +2.6p at 33.6p

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