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EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, announces its final results for the year ended 31 December 2018.

Financial highlights

• Revenue up 2% to £42.5m (2017: £41.6m)
• Gross profit broadly flat at £22.7m (2017: £22.9m)
• Adjusted EBITDA* up 15% to £10.7m (2017: £9.3m)
• Profit before tax £12.2m (2017: £4.3m), over 2.8 times higher
• Basic Earnings per share of 2.21p (2017: 0.59p), underlying basic earnings (excluding exceptional items and share based payments) of 1.01p (2017: 0.58p)
• Cash generated from operations of £9.9m (2017: £10.1m)
• Cash at 31 December 2018 of £10.3m (31 Dec 2017: £8.2m), net cash of £9.4m (31 Dec 2017: £7.0m)

* Excluding exceptional items and share based payments

Operational Highlights

• Successful flotation of Renalytix AI plc creating significant shareholder value
• Achieved US FDA 510(k) clearance for point-of-care and CLIA waiver for the DiaSpect Tm
• Major private label distribution agreement with McKesson for the Tm
• US FDA 510(k) clearance for Quo-Test in clinical laboratory setting
• Upgrade to Elkhart (Indiana, USA) enzyme facility and contract to supply enzymes to US biopharma Oragenics for use in their pharmaceutical products

Christopher Mills, Non-executive Chairman of EKF, said:

“This has been a very successful year, which has allowed us to provide significant rewards for shareholders. We are confident that we will continue to make progress in 2019. Trading in the first quarter to date has been satisfactory, in line with management expectation.”

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