05th February 2020

EKF confident of further progress in 2020

EKF Diagnostics Holdings has said it is looking ahead confidently after maintaining momentum during 2019.

In a trading update for the year to 31 December 2019, the AIM listed point-of-care business said its full-year revenue and adjusted EBITDA was in line with expectations which were upgraded in previous announcements to the stock exchange.

Cash generation during the period was strong, with net cash at year-end of £11.4m, after the payment of performance bonuses.

Renalytix AI, the spin out from EKF which floated in November 2018, was said to have continued to perform well.

EKF added that it had maintained its momentum during 2019 by achieving its strategic goals and the company’s board was confident that this progress will continue into 2020.

A further boost is expected from the OEM contract with McKesson-Surgical for the distribution of Diaspect Tm in the US and the enzyme manufacturing business with Oragenics.