7th Apr 2020 16:18
(Alliance News) - Medica Group PLC on Tuesday did not recommend the payment of a dividend for 2019 in the face of the ongoing Covid-19 pandemic, despite a stronger performance in the period.
For 2019, the provider of teleradiology services reported a pretax profit of GBP9.6 million, up 4.3% from GBP9.2 million the year before, despite administrative expenses rising to GBP12.0 million from GBP9.4 million.
Revenue meanwhile increased by 19% to GBP46.5 million from GBP39.0 million, with significant growth from out-of-hours reporting service NightHawk, as well as stronger performances from the routine cross sectional and plain film businesses.
NightHawk is an out-of-hours emergency reporting service, while Cross Sectional is a less urgent MRI and CT scan service.
"I am pleased to report a strong financial and operational performance in 2019. Since joining in September, we have refocused our strategy to support the future growth and development of the business, as well as continue to improve the quality of our service offering. The market for teleradiology remains strong and we are increasingly supporting our clients with our high quality and responsive service both for urgent cases during out of hours and an increasing level of routine scans," said Chief Executive Officer Stuart Quin.
Shares in Medica were down 8.8% at 100.31 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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