Results Round-up

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LONDON (ShareCast) - Healthcare company EKF Diagnostics Holdings on Friday posted a 20 per cent increase in revenues for the second half of 2012.

In a trading update ahead of its results for the financial year ended December 31st, EKF said the second half wielded unaudited revenues of £26.1m, up from £21.7m the year before.

The company reported a net cash position of £2.3m for the year while earnings before interest, taxes, depreciation, and amortization (EBITDA) were expected to be ahead of previous upgraded market consensus.

Results were bolstered by sales of higher margin reagents including its chemical, beta-hydroxybutyrate.

The second half gained from sales of HemoPoint H2 instruments and cuvette through its distribution partner, Alere (NYSE: ALR - news) .

Alere sold 2,460 HemoPoint H2 instruments into the North American market compared to 608 sold by Stanbio in the previous year.

Towards the end of the year EKF received further orders from the Mexican Institute of Social Security (IMSS), for cuvettes for the HemoPoint H2. It followed a $3.6m order from IMSS in November (Xetra: A0Z24E - news) .

Julian Baines, Chief Executive of of EKF, said: "I am delighted with the strong performance shown by the business in 2012. Our continued focus on margin improvement has delivered EBITDA which is again ahead of expectations as well as strong cash generation.

"Looking forward, the contract from IMSS and the strong sales of Quo-Test and Quo-Lab we've recorded in January marks a confident start to 2013."


Full-year like-for-like (LFL) sales growth at instrumentation and controls group Spectris (Other OTC: SEPJF - news) was boosted by a strong fourth quarter, as the firm said it is well positioned for 2013.

LFL sales growth accelerated from 2% to 4% from the third to the fourth quarter of 2012, "helping deliver a robust full year performance despite a challenging trading environment," Spectris said in a pre-close trading update on Friday.

Full-year sales rose 11% on a reported basis, which included 10% from acquisitions, offset by a 2% negative impact from foreign exchange movements. LFL sales increased 3% in 2012 as a whole.

The company said that LFL sales in the Asia Pacific region increased by 6% last year, with China showing "continued strength". North America sales rose by 5% but Europe registered a fall of 1%.

The company, which employs 7,500 people worldwide, has four main divisions: Materials Analysis; Test & Measurement; In-Line Instrumentation; and Industrial Controls.

Full-year adjusted operating profit increased from £201.5m in 2011 to £229m, while the adjusted operating margin improved from 18.2% to 18.6%.

Spectris said that cash conversion continued to be strong and its financial position remains "robust", with net debt at the end of the year in line with forecasts.

"We are pleased with the performance and the resilience shown by our businesses during the year," said Chief Executive John O'Higgins.

"For 2013, we are well positioned and will continue to focus on our strategic priorities including further strengthening of our R&D pipeline and the development of our recent acquisitions, whilst our strong balance sheet enables us to seek additional inorganic growth opportunities."