LONDON (ShareCast) - (Sharecast News) - Diagnostics business EKF Diagnostics said on Tuesday that it has signed three new contracts in its key organic growth area of Hematology point-of-care testing, worth approximately €4.65m.
EKF Diagnostics said the contracts, which will be delivered over the next 12 to 24 months, were for the supply of haemoglobin analysers and related consumables, secured by its distribution partners in Latin America and Africa.

The AIM-listed group noted that one contract represented "a return to significant sales" in Peru, following a sharp decline in local sales due to geopolitical factors, while another contract marked EKF's first sales into Uganda, as strong sales growth continues across Africa.

EKF, which successfully increased supply capacity going into H225 to meet rising demand, stated that with its order book already at record levels and now full for 2025, further investment will be deployed to grow haemoglobin consumable and analyser production capacity at its Barleben site by 30% as part of its five-year strategic development plan.

EKF added that the additional contracts reinforced its confidence in delivering growth at both the revenue and adjusted underlying earnings levels in line with full-year market expectations.

Chief executive Gavin Jones said: "As part of our five-year strategic development plan to support accelerated organic growth, we identified that haemoglobin testing was the most significant growth opportunity within our POC portfolio. We're very pleased to see that allowing our dedicated POC sales team to focus on core growth products is bearing fruit, particularly in Haemoglobin POC testing. As we win more and more new contracts and increase our global analyser footprint, we will see the benefits not just this year, but also in the years to come as consumable pull-through drives higher margin revenue growth."

As of 1055 BST, EKF shares were up 8.02% at 29.22p.



Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE