12th September 2017

“Good Progress” for EKF as revenue rises

Penarth-based EKF Diagnostics has achieved “continued good progress” with turnover up by more than 20 per cent in its half-year results.

According to the listed company’s results for the six months to 30 June 2017, turnover grew to £21.5m from £17.5m in the same period of 2016.

Pre-tax profit was £1.4m, compared to a £1.2m loss the year before, with adjusted earnings (EBITDA) rising to £4.6m from £2m.

EKF said it had reduced it cost base during the period, including closing a facility in Poland and transferring the work to its factory in Barleben, Germany.

There was an “improved performance across every business area” with 7,496 analysers and about four million tests sold during the first half of 2017.

Christopher Mills, chairman of EKF, said: “By following the business plan we set out of simplifying and streamlining the company, the board is pleased to report continued good progress in the first half of 2017, illustrated by improved performance across every business area.

“It remains the board’s intention to tightly control costs and therefore the board is comfortable that current trading is in line with management expectations for 2017.”

View EKF Diagnostics’ profile here.