25th January 2022

EKF To Surpass Already Upgraded Expectations

Continued strong trading is set to mean EKF Diagnostics Holdings will post full-year results ahead of already upgraded market expectations.

The Penarth-based AIM-listed point-of-care, central lab devices and chemistry reagents group said trading in its core business in the final quarter continued to be robust and ongoing demand for sample collection kits and testing remained strong through to the end of the year.

Core business revenues grew by more than 13 per cent compared with the previous financial year.

During the year, and as part of the group’s strategy, significant investment was made to expand fermentation capabilities and contract manufacturing to drive further organic growth.

Further investment in enzyme fermentation is scheduled for the current financial year in this growth area.

EKF said growth and investment in the core business was complemented by a strategy to exploit expanded capabilities to meet the demand for contract manufacturing services.

Advanced Diagnostic Laboratory, the CLIA-certified lab testing business acquired in October 2021, was said to be integrating well and has begun diversifying into non-Covid testing.