Strong organic growth leads to uplift in expectations at EKF

Point-of-care business EKF Diagnostics Holdings updated the market on its trading on Thursday, announcing that its second quarter saw a continuation of the “favourable trends” experienced in the first quarter.

The AIM-traded firm said that in particular, June sales were “notably strong”, which the board said was entirely due to organic growth with no major tenders won during the period.

As a result, the company said it expected adjusted EBITDA for 2017 to be “comfortably ahead” of current market forecasts.

“Finally, despite the cancellation of the stock option scheme at a cost of £1.5m cash generation has been very strong with net cash at 30 June of approximately £4.0m,” the board added in its short statement.