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EKF Diagnostics

October 2013

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Latest H1 showed sales were up 18% to Â£14.9m - entirely organic. Adjusted EBITDA was Â£2.1m, up 51%. In terms of sales split, Â£9.8m comes from point of care instruments and reagents and the rest from producing chemistry reagents (such as BHB). Our focus is the former where some 50,000 instruments (Hemopoint, Quo, Biosen) have been sold in the last 5 years alone and as customers replace consumables each time a test is performed the business model is one of 'razors and blades.' In the latest H1, more instruments were sold (Â£3.3m) and overall reagent sales grew (to Â£5.9m). Consumables are high margin and EKF explains the drop in gross margins (from 57.4% to 51.3%) by saying this was down to an unexpected resurgence in legacy Biosen inst ...

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Parity

Growth Portfolio 2 - October 2013

EKF Diagnostics (January 2015)

EKF Diagnostics (October 2014)

EKF Diagnostics (June 2014)

EKF Diagnostics - Three acquisitions in a month (April 2014)

EKF Diagnostics (March 2014)

EKF Diagnostics (April 2013)

EKF Diagnostics (October 2012)

EKF - Forecasts upgraded again (April 2012)

EKF DIagnostics (October 2011)

EKF - Second large diagnostic deal sends EKF full square into the US market (July 2011)

EKF Diagnostics (December 2010)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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