EKF Diagnostics Holdings (EKF)

Sector:

Financials

Index:

FTSE AIM All-Share

 75.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 85.00
  • 52 Week Low: 60.75
  • Currency: UK Pounds
  • Shares Issued: 463.93m
  • Volume: 44,376
  • Market Cap: £350.27m
  • Beta: 0.01

EKF Diagnostics reports continued strong trading

By Josh White

Date: Wednesday 21 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Point-of-care company EKF Diagnostics said on Wednesday that the strong trading it reported at the beginning of the year had continued through the second quarter.
The AIM-traded firm put that down to improving trading in its core business, and ongoing strong demand for iots contract manufacturing services for Covid-19 sample collection devices and associated kits.

Its board said it remained confident that trading for the full year would remain strong, and would be in line with its "already materially upgraded" expectations.

Revenues for the six months ended 30 June totalled £38.56m, up from £26.33m year-on-year, with the company expecting to report adjusted EBITDA in the region of £12.75m for the period, compared to £8.93m a year earlier.

Gross cash at the end of the first half on 30 June was £20.78m, and cash net of borrowings totalled £20.39m, in line with management expectations.

In addition, the firm's interest in Renalytix had a fair value of £10.83m, and its Verici Dx securities had a fair value of £1.83m, based on closing mid-market prices on 30 June.

"Following the payment of an inaugural cash dividend of 1p per share at the end of last year, the company has confirmed its intention to maintain a modest but progressive dividend policy, and a further dividend payment to shareholders of 1.1p per ordinary share, which it proposes to pay on 1 December to shareholders on the register at the close of business on 5 November," the board declared on Wednesday.

The ex-dividend date for that dividend would be 4 November.

"The company remains confident that its growth strategy will create a business which, aside from any Covid-19-related revenues, is capable of generating significant double-digit growth in adjusted EBITDA over the next three to four years," the directors added.

They said it would achieve that by investing in its existing core business to drive strong organic growth, and maximising value from the agreement with Mount Sinai Innovation Partners.

"[We will also] seek complementary and targeted earnings-enhancing acquisitions with key strategic value to the core business, [and] continue to maximise the opportunity to assist clients to control the impact of Covid-19, and to evolve new contract manufacturing capabilities in this area to a broader range of diagnostic and other healthcare settings."

EKF said it would announce its unaudited results for the six months ended 30 June in the first half of September.

At 1424 BST, shares in EKF Diagnostics Holdings were up 4.51% at 74.2p.

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

 

EKF Market Data

Currency UK Pounds
Share Price 75.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 85.00
52 Week Low 60.75
Volume 44,376
Shares Issued 463.93m
Market Cap £350.27m
Beta 0.01

EKF Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
84.91% below the market average84.91% below the market average84.91% below the market average84.91% below the market average84.91% below the market average
79.84% below the sector average79.84% below the sector average79.84% below the sector average79.84% below the sector average79.84% below the sector average
Price Trend
51.33% above the market average51.33% above the market average51.33% above the market average51.33% above the market average51.33% above the market average
50.72% above the sector average50.72% above the sector average50.72% above the sector average50.72% above the sector average50.72% above the sector average
Income
71.53% below the market average71.53% below the market average71.53% below the market average71.53% below the market average71.53% below the market average
76.62% below the sector average76.62% below the sector average76.62% below the sector average76.62% below the sector average76.62% below the sector average
Growth
96.21% above the market average96.21% above the market average96.21% above the market average96.21% above the market average96.21% above the market average
86.67% above the sector average86.67% above the sector average86.67% above the sector average86.67% above the sector average86.67% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

EKF Dividends

  Latest Previous
  Final Final
Ex-Div 04-Nov-21 05-Nov-20
Paid 01-Dec-21 01-Dec-20
Amount 1.10p 1.00p

Trades for 03-Dec-2021

Time Volume / Share Price
16:24 502 @ 76.00p
16:22 665 @ 76.00p
15:36 3,000 @ 75.44p
15:21 33 @ 75.72p
15:03 602 @ 75.49p

EKF Key Personnel

Finance Director Richard Evans
CEO David Michael Salter

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