Full Year Results 

EKF cuts costs, lifting profits

EKF cuts costs, lifting profits

EKF Diagnostics’ (EKF) full-year numbers centred on four ‘Cs’: currency, cost control, cash and capital restructuring. Of the group’s 8 per cent sales growth, 6.6 per cent stemmed from favourable foreign exchange movements. That said, continuing efforts to reduce costs paid off: adjusted cash profit escalated from £6.1m to £9.2m, with currency benefits only contributing £0.6m. And, encouragingly, the company saw net cash rise from £2m to £7m, due to strong cash conversion. Meanwhile, management received approval last September to buy back up to 15 per cent of EKF’s shares – potentially lining up a significant return to investors.

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