12th Mar 2015 09:41
LONDON (Alliance News) - Medaphor Group PLC said Thursday posted a widened pretax loss for 2014, due to costs related to its listing on AIM last August, and said visibility on significant potential orders support its expectations for the first half of 2015.
Medaphor provides ultrasound education and training technology and materials for medical professionals.
The company posted a pretax loss of GBP1.5 million, widened from GBP395,094 a year before, as a rise in revenue to GBP1.8 million from GBP1.4 million was offset by costs relating to its listing.
It raised GBP4.7 million in its initial public offering and said it is continuing to fund new developments, a number of which it will launch in 2015. It launched the latest version of its ScanTrainer system with cloud capabilities last November.
The company said it was pleased by the contribution from its US subsidiary, which it launched at the start of the year. It has expanded its staff in the US to four from one, and in the UK to five from one.
"This has been an excellent year for the group. We have raised significant funds that have been used to expand both the sales force in the UK and North America and grow our already impressive product portfolio. The launch of the cloud-based services for ScanTrainer is particularly exciting and we look forward to growing the business globally in 2015," said Chairman Riccardo Pigliucci in a statement.
Shares in Medaphor are untraded Thursday, it last closed at 57.86 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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