28th Jan 2015 08:27
LONDON (Alliance News) - EKF Diagnostic Holdings PLC said Wednesday that it expects its results for 2014 to be at the higher end of its previous guidance, after a strong second half.
The biotechnology company said it expects to post adjusted earnings before interest, tax, depreciation and amortisation of GBP6.3 million from GBP4.8 million, on revenue of around GBP40.1 million, up from GBP31.8 million a year before. Its adjusted figure excludes exceptional items and share-based payments.
In its second half, revenue rose 38% compared with the previous year, and 39% compared with the first half.
Acquisitions contributed GBP6.4 million to revenues, EKF said. Whilst it had seen a slower than expected start from acquisitions, it said that a progression to a monthly run rate more in line with its expectations is very encouraging.
EKF expressed confidence for progress and growth in 2015, citing new product launches, a full year contribution from acquisitions, product enhancements, and a number of registrations nearing conclusion.
"The coming year has the potential to be a period of substantial and sustained growth for EKF and the key to our success in 2015 will be built on the strong foundations laid in the final quarter of 2014 in both our point of care and molecular divisions," said Chief Executive Officer Julian Baines in a statement.
Shares in EKF were trading up 10.3% at 21.50 pence early Wednesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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