MyHealthchecked (MHC)

Sector:

Health Care

Index:

FTSE AIM All-Share

 12.25p
   
  • Change Today:
      0.000p
  • 52 Week High: 27.00
  • 52 Week Low: 8.50
  • Currency: UK Pounds
  • Shares Issued: 52.01m
  • Volume: 37,336
  • Market Cap: £6.37m
  • RiskGrade: 796

MyHealthChecked flags 'stronger than expected' first half

By Josh White

Date: Wednesday 20 Jul 2022

LONDON (ShareCast) - (Sharecast News) - Home-testing healthcare company MyHealthChecked said in an update on Wednesday that trading in its first half was stronger than expected, and ahead of management budgets.
The AIM-traded firm said the performance was driven by "significant growth" in consumer demand for the higher-volume, but lower-margin, Covid-19 lateral flow test kits for at-home use via the UK's top two high-street pharmacy retailers.

As a result, revenues for the six months ended 30 June were expected to be £9.8m, up from £3.3m year-on-year, with a positive EBITDA position expected, swinging from a £0.2m loss in the first half of 2021.

Cash balances at period end had also increased, to £7m from £2.2m, as the company continued to invest across the business for future growth.

Looking ahead, MyHealthChecked said although the recent increase in Covid-19 infection rates had led to a "significant increase" in demand for lateral flow test kits in recent weeks, it was an "unpredictable and volatile" market, making it difficult to predict how long the increased demand would last.

However, given the level of sales achieved to date and the firm's current order book, the board said it was confident that revenues for the full year would exceed those achieved during the year ended 31 December 2021.

"We are extremely pleased with the continued COVID-related revenues that have been achieved in the first half, alongside the launch of our suite of at-home wellness tests," said chief executive officer Penny McCormick.

"The global economy is seeing recovery from Covid, however trends indicate that priorities remain with Covid testing.

"Whilst we will continue to monitor this and provide our services directly and through the UK's top high street pharmacy retailers, our focus now shifts to our wellness tests that we will be launching with Amazon shortly."

McCormick said the MyHealthChecked team had proven to be "flexible and adaptable" to the firm's changing circumstances, with the Covid testing business providing "great insight" into consumer home testing trends that the company believed were "here to stay".

"As our focus shifts to the wellness testing market, I am very pleased with the feedback around our recently launched tests and look forward to providing investors with an update on our new products later in the year."

MyHealthChecked said it would publish its unaudited results for the six months ended 30 June in September.

At 1549 BST, shares in MyHealthChecked were down 8.89% at 2.05p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MHC Market Data

Currency UK Pounds
Share Price 12.25p
Change Today 0.000p
% Change 0.00 %
52 Week High 27.00
52 Week Low 8.50
Volume 37,336
Shares Issued 52.01m
Market Cap £6.37m
RiskGrade 796

MHC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
87.04% above the market average87.04% above the market average87.04% above the market average87.04% above the market average87.04% above the market average
93.75% above the sector average93.75% above the sector average93.75% above the sector average93.75% above the sector average93.75% above the sector average
Price Trend
51.54% below the market average51.54% below the market average51.54% below the market average51.54% below the market average51.54% below the market average
2.7% below the sector average2.7% below the sector average2.7% below the sector average2.7% below the sector average2.7% below the sector average
Income Not Available
Growth
32.1% below the market average32.1% below the market average32.1% below the market average32.1% below the market average32.1% below the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average

MHC Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
15:57 2,801 @ 11.62p
15:40 378 @ 11.50p
14:16 770 @ 12.46p
13:42 32,462 @ 12.29p
11:27 666 @ 11.53p

MHC Key Personnel

CEO Penelope McCormick
CFO Lesley Innes

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