12th Sep 2018 12:27
LONDON (Alliance News) - Medica Group PLC said Wednesday that it delivered double digit growth in the first half of its financial year, as it increased customer penetration of its two main service lines.
For the six months to June 30, the provider of tele-radiology services posted pretax profit of GBP4.4 million, up from GBP1.3 million a year ago. Revenue increased by 18% to GBP18.6 million from GBP15.7 million a year ago.
The company said that volume growth has been "consistently strong" for NightHawk and Cross Sectional, its two main service lines, coming mainly from existing clients.
NighHawk is an out of hours emergency reporting service mainly delivering CT scans and represents Medica's largest revenue contributor. Cross Sectional covers a combination of CT and MRI scans for less urgent daytime reporting.
Chief Executive Officer John Graham said: "Medica continued to deliver double-digit revenue growth in the first half of 2018 as we execute on our strategy to increase customer penetration of Nighthawk and Cross Sectional services."
"During the first six months of 2018, the group has been investing in several medium to long-term opportunities which will enable us to diversify our service offering and support growth."
The company proposed an interim dividend of 0.75 pence per share, up from 0.55p a year before.
Overall, Medica said that its board expects its annual results to be in line with market expectations.
Medica shares were trading up 3.0% at 149.40p each.
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