27th Jun 2016 14:22
LONDON (Alliance News) - Medilink-Global UK Ltd on Monday reported a swing to pretax profit in 2015, as a business was sold and a hefty goodwill impairment in the previous year didn't repeat.
The healthcare administration services company reported a pretax profit of GBP335,000 for the year, swung from a pretax loss of GBP1.9 million in 2014, on revenue of GBP1.5 million, up from GBP1.4 million.
It reported a GBP783,000 exceptional gain from the sale of its Medilink (Beijing) TPA Pte Ltd business, which helped bolster profit. Medilink-Global the previous year recorded a GBP1.7 million goodwill impairment.
Revenue growth was driven by a strong performance in Malaysia, where revenue was up 31%.
"Medilink will continue to provide excellent services to its customers and with our new initiatives in Malaysia and Singapore, we anticipate that the group's prospects will continue to improve in 2016. We will look to strengthen all areas of the organisation and maintain our position as a leading regional Third Party Administrator, Electronic Card Network Operator and an Insurance Claims system solutions provider in the Asia Pacific region with a global servicing capacity," the company said in a statement.
Shares in Medilink-Global were up 10% at 2.20 pence Monday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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