27th Jun 2014 16:48
LONDON (Alliance News) - Medilink-Global UK Ltd Friday said its pretax loss was largely flat in 2013 as revenues and expenses stayed similar to the previous year.
Medilink, which provides electronic healthcard network services to insurance and other companies to facilitate the administration of medical claims, said its pretax loss came in relatively flat at GBP674,000 from GBP705,000 the previous year.
The company posted flat revenues of GBP2.1 million as strong revenues from its Chinese operations were offset by falls in sales to AXA-Affin General Insurance Berhad, one of its major customers, falls in revenue from its Singapore operations and lower levels of software licencing revenues.
Medilink also posted flat administrative expenses of GBP1.5 million and said it continues to manage costs.
The company also noted that it sold a 30% share in Medilink-Global TPA Pte Ltd to WMG Management Pte Ltd during the period, resulting in a profit of GBP61,000.
Medilink shares closed flat at 1.68 pence on Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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