EKF Diagnostics sees FY revenues, earnings ahead of market views

7th Nov 2016 12:07

(ShareCast News) - AIM-listed point-of-care business EKF Diagnostics said on Monday that revenues and adjusted earnings for the year to the end of December are likely to be ahead of current market forecasts. EKF said early trading in the fourth quarter has again been "materially higher" than budget and at a run-rate in excess of already revised market forecasts, upgraded after the trading update on 7 October.As a result, the group - which attributed its strong performance to organic growth - said it now expects to achieve full-year revenues of at least £36.5m and adjusted earnings before interest, taxes, depreciation and amortisation of at last £5.5m.The company also said cash generation continues to be strong and it now expects to be close to breakeven if not cash positive by the year end, and then cash positive in the first quarter, again ahead of its previous expectations.At 1220 GMT, the shares were up 10% to 17.66p.