Consumer healthcare outfit IDH says it will beat FY2020 guidance
London-listed, Cairo-headquartered consumer healthcare firm Integrated Diagnostic Holdings (IDH) beat its guidance for FY2020, saying in a trading update that it expects to post revenues of c. EGP 2.6 bn with an EBITDA margin in excess of 40%. The company had previously suggested it expected revenues to close in the EGP 2.3-2.4 bn range for the fiscal year ending 31 December 2020. “Following Covid-19-related disruptions early in the year, starting in the second half of 2020 we witnessed accelerated top-line growth which culminated in a robust fourth quarter as the business captured strong consumer demand across its portfolio,” CEO Hend El Sherbini said. IDH’s 4Q results will “reflect a strong contribution from PCR and covid-19-related testing in Egypt and Jordan and the ramping up of IDH's house call services in both countries.” IDH operates in Egypt, Jordan, Sudan and Nigeria and is best known at home for its Al Borg and Al Mokhtabar brands. The company is presently looking to list its shares on the EGX while maintaining a primary listing on the LSE.