EKF revenues up; evaluating plans to split company

EKF Diagnostics Holdings' revenues rose by 28% to £38.6m in the year to the end of December and announced that it was evaluating plans to split the company.

Gross profit increased by 24% to £18.3m and the group posted adjusted EBITDA of £6.1m against a loss of £0.3m last time.

The company said it was evaluating plans to split the group into two separate companies - point of care and lab diagnostics - with the purpose of seeking to achieve a fair reflection of the value of each separate business.

Non-executive chairman Christopher Mills said: "Much has been done very quickly to turn the group around, however work continues to simplify the business to allow the management team to concentrate on making it more cost efficient so that we can service our growing customer base and build for the future.

" I am confident that shareholders will see the continuing benefits of this in 2017 and we are currently trading in line with management's expectations."

At 9:06am: (LON:EKF) EKF Diagnostics Holdings PLC share price was +1.13p at 19.13p