EKF Diagnostics Holdings posts revenue rise

Healthcare company EKF Diagnostics Holdings on Friday posted a 20 per cent increase in revenues for the second half of 2012.

Healthcare company EKF Diagnostics Holdings on Friday posted a 20 per cent increase in revenues for the second half of 2012.

In a trading update ahead of its results for the financial year ended December 31st, EKF said the second half wielded unaudited revenues of £26.1m, up from £21.7m the year before.

The company reported a net cash position of £2.3m for the year while earnings before interest, taxes, depreciation, and amortization (EBITDA) were expected to be ahead of previous upgraded market consensus.

Results were bolstered by sales of higher margin reagents including its chemical, beta-hydroxybutyrate.

The second half gained from sales of HemoPoint H2 instruments and cuvette through its distribution partner, Alere.

Alere sold 2,460 HemoPoint H2 instruments into the North American market compared to 608 sold by Stanbio in the previous year.

Towards the end of the year EKF received further orders from the Mexican Institute of Social Security (IMSS), for cuvettes for the HemoPoint H2. It followed a $3.6m order from IMSS in November.

Julian Baines, Chief Executive of of EKF, said: "I am delighted with the strong performance shown by the business in 2012. Our continued focus on margin improvement has delivered EBITDA which is again ahead of expectations as well as strong cash generation.

"Looking forward, the contract from IMSS and the strong sales of Quo-Test and Quo-Lab we've recorded in January marks a confident start to 2013."

Shares rose 7.27% to 29.50p at 10:53 Friday.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
James Ferguson: How bad data is driving fear of a second wave of Covid-19
UK Economy

James Ferguson: How bad data is driving fear of a second wave of Covid-19

Merryn and John talk to MoneyWeek regular James Ferguson about the rise in infections in coronavirus and what the data is really telling us.
17 Sep 2020