26th Nov 2015 08:46
LONDON (Alliance News) - EKF Diagnostics Holdings PLC Thursday warned on its pretax profit for 2015 after undertaking a review of the business.
Shares in EKF were trading down 51% at 7.14 pence early Thursday following the announcement.
The healthcare company said the review found that it should achieve full-year revenue of around GBP32 million, but that pretax profit will be hurt by a "number of items".
These include an impairment of the molecular division following a potential divestment or closure of the business, a write-off of specific debtors, and costs associated with the closure of the Separation Technology Inc site in Sanford, Florida.
"The management team is making progress in realigning its cost base with the goal of achieving positive cash generation in the early part of next year," EKF said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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