EKF Diagnostics profit jumps on Renalytix AI spin-off gain
Source - SMW
Point-of-care group EKF Diagnostics Holdings posted a large rise in annual profit after it booked a gain on the spin-off of its biomarker unit Renalytix AI.
Pre-tax profit for the year through December rose to £12.2m, up from £4.3m on-year.
Revenue rose 2% to £42.5m, while gross profit fell slightly to £22.7m.
'This has been a very successful year, which has allowed us to provide significant rewards for shareholders,' chief executive Christopher Mills said.
'We are confident that we will continue to make progress in 2019.'
'Trading in the first quarter to date has been satisfactory, in line with management expectation.'
At 2:35pm: (LON:EKF) EKF Diagnostics Holdings PLC share price was -1.15p at 30.55p