25th Sep 2013 12:02
LONDON (Alliance News) - Shares in MediLink-Global, an electronics provider for the healthcare industry, jumped Wednesday as it recorded narrowed pretax losses and increases in revenues as performance in Malaysia and China improved.
Shares were trading up 16.7% at 3.50 pence Tuesday morning.
The company posted slightly increased revenues of GBP1.1 million, up from GBP958,000 in the previous year. It posted a pretax loss of GBP237,000, narrowed from GBP367,000. Revenue growth in Malaysia and China improved alongside cost saving measures enacted in Singapore.
Revenue in Malaysia grew by 8%, and in China 38%. The company said that 380 healthcare providers now operate in its network in China, and that maintained overheads had helped to significantly reduce the operating loss in the area. The company saw rises in costs from its Malaysia operations, which constitutes 45% of its revenues, as it increased manpower.
The company also sold its subsidiary MediLink-Global TPA Pte Limited for around SGD150,000 to WMG Management Pte. Limited.
It said that it was confident its financial performance would continue to improve in the second half of 2013.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2013 Alliance News Limited. All Rights Reserved.
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