TIDMMHC
RNS Number : 0304T
MyHealthChecked PLC
20 July 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
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BE IN THE PUBLIC DOMAIN.
MyHealthChecked PLC
( " MyHealthChecked " or the "Company " )
Trading update
Stronger than expected H1 revenues reinvested to drive future
growth
At-home wellness tests to be launched on Amazon
MyHealthChecked Plc (AIM: MHC), the consumer home-testing
healthcare company, provides an update on trading for the six
months ended 30 June 2022, which has been stronger than expected
and ahead of management budgets. The financial information is based
on unaudited management accounts.
H1 Trading
Further to the AGM Statement announced on 30 June 2022 ,
MyHealthChecked can confirm that trading in the first half of the
year has been stronger than expected and ahead of budget. The
robust performance has been driven by the significant growth in
consumer demand for the higher volume, but lower margin, COVID-19
lateral flow test kits for at-home use via the UK's top two high
street pharmacy retailers.
As a result, revenues for the six months ended 30 June 2022 are
expected to be approximately GBP9.8m ( H1 2021: GBP3.3m; FY 2021:
GBP16.4m) and the Company is expected to record a positive EBITDA
position for H1 ( H1 2021: GBP0.2m loss; FY 2021: GBP2.7m) . Cash
balances as at 30 June 2022 have also increased to approximately
GBP7m (H1 2021: GBP2.2m; FY 2021: GBP6.4m) whilst the Company has
continued to invest across the business for future growth.
Investing for future growth
During 2022 the Company has continued to invest in its digital
platform and wider portfolio of wellness testing products, and
further new products are expected to be launched in the first half
of 2023.
MyHealthChecked will also increase investment in digital
marketing activities in the second half, raising awareness and
reinforcing the message that the Company is now a well-recognised
and trusted brand, whilst also ensuring marketing campaigns are
distinctive and recognisable.
As a consumer business, user experience and data protection are
key to success, and funds continue to be invested in further
improving MyHealthChecked's digital platform, compliance, and
delivery. At the same time, to ensure familiarity and understanding
of its customer base and changing consumer behaviours and
priorities, the Company is investing in consumer insight data to
ensure commercial decisions are made on the most current, relevant
market information available. In H2 the Company will also expand
its team of Medical and Scientific Advisors to provide the right
level of expertise to guide its wider portfolio of wellness tests,
and to ensure it continues to provide customers with highly
accurate guidance and meaningful information.
DNA wellness testing portfolio
During June 2022 MyHealthChecked launched five new at-home cheek
swab tests for Intolerances & Sensitivities, Weight Management,
Heart Profile, Vitamins & Minerals and Glucose Management. They
are priced at GBP54 each and are available on the Company's
website: https://myhealthchecked.com . The Company also expects to
be able to announce the availability of the new DNA testing range
on Amazon later this month. Discussions continue with key retail
partners as they evaluate consumer interest in a new potential
growth market, a sector that has evolved as a result of widespread
consumer familiarity with easy-to-use home-testing during the
pandemic.
Full year outlook
Although the recent increase in COVID-19 infection rates has led
to a significant increase in demand for COVID-19 lateral flow test
kits in recent weeks, this is an unpredictable and volatile market
which makes it difficult to predict with any degree of certainty
how long this increased demand will last. However, given the level
of sales achieved to date and our current order book, your Board is
confident that revenues for the full year will exceed those
achieved during the year ended 31 December 2021.
Unaudited half-year results will be published in September and a
Notice of Results will be notified when a date is confirmed.
Penny McCormick, Chief Executive Officer of MyHealthChecked Plc
, said: "We are extremely pleased with the continued COVID-related
revenues that have been achieved in H1 alongside the launch of our
suite of at-home wellness tests. The global economy is seeing
recovery from COVID, however trends indicate that priorities remain
with COVID testing. Whilst we will continue to monitor this and
provide our services directly and through the UK's top high street
pharmacy retailers, our focus now shifts to our wellness tests that
we will be launching with Amazon shortly.
"The MyHealthChecked team has proved to be flexible and
adaptable to our changing circumstances and the COVID testing
business has provided great insight into consumer home testing
trends that we believe are here to stay. As our focus shifts to the
wellness testing market, I am very pleased with the feedback around
our recently launched tests and look forward to providing investors
with an update on our new products later in the year."
For further information contact:
MyHealthChecked plc www.myhealthchecked.com
P enny McCormick, Chief Executive via Walbrook PR
Officer
SPARK Advisory Partners Limited Tel: +44 (0)20 3368 3550
(NOMAD)
Neil Baldwin
Oberon Capital Ltd (Broker) Tel: +44 (0)203 179 5344
Mike Seabrook mikeseabrook@oberoninvestments.com
Walbrook PR Ltd (Media Tel: +44 (0)20 7933 8780 or myhealthcheckedplc@walbrookpr.com
& IR)
Paul McManus / Alice Woodings Mob: +44(0)7980 541 893 / +44(0)
7407 804 654
About MyHealthChecked PLC ( www.myhealthcheckedplc.com )
MyHealthChecked PLC, based in Cardiff, is an AIM-quoted
pioneering UK healthcare company focused on a range of at-home
healthcare and wellness tests.
MyHealthChecked is the umbrella brand of a range of at-home DNA
and RNA tests that have been developed following the acquisition of
The Genome Store in November 2020. The tests are available online,
and in some cases, for over-the-counter purchase.
The MyHealthChecked portfolio has been identified as part of a
change in mindset as customers become more familiar with the
concept of accessible healthcare in the growing at home testing kit
market with a focus on accessibility at the right price, led by
UK-based experts.
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END
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July 20, 2022 02:00 ET (06:00 GMT)
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