EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, announces that trading in the final quarter of the year ended 31 December 2016 was materially better than budget and that the overall performance for the year will exceed revised market forecasts, recently upgraded following the trading update provided on 7 November 2016.

The Company can confirm that it achieved revenues in excess of £38m (compared to previous guidance of “at least £36.5m”) for the year and adjusted EBITDA comfortably exceeded £5.5m (compared to previous guidance of “at least £5.5m”). The strong performance during the final quarter is entirely due to organic growth.

In addition, the Company announces that cash generation during the final quarter continued to be strong. The Company was net cash positive by the year end, and expects to remain cash positive in the first quarter of the 2017 financial year. The Company has used some of the cash generated during the final quarter to reduce its debt position by approximately £1.6m.

The announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.