19th Sep 2014 09:25
LONDON (Alliance News) - MediLink-Global UK Ltd Friday said its first-half pretax loss narrowed thanks to good performances in Singapore and China, as well as cost-cutting measures in Malaysia.
In a statement, MediLink, which provides electronic health-card network services to insurance companies and corporate organisations to facilitate administration of medical claims and healthcare data-management, said it made a GBP200,000 pretax loss in the six months ended June 30, compared with GBP237,000 in the corresponding period last year.
Although revenue fell to GBP1.06 million from GBP1.09 million, better gross margin more than offset a rise in administrative expenses to GBP754,000 from GBP733,000. This resulted in an reduced operating loss.
"The operating loss for the period was lower compared to the same period last year by virtue of revenue growth in Singapore and China and the cost-saving measures taken particularly in relation to operations in Malaysia," Chairman Norman Lott said in a statement.
"We believe there will be steady improvement in revenue generated from membership growth in both our Malaysia and China operations, which together with the new revenues derived from the licensing of MediLink's Managed Care System to insurance companies in Malaysia and Singapore will contribute to a significant health insurance portfolio," Lott added, saying he is confident the group's financial performance should improve in the second half of the financial year and beyond.
MediLink-Global UK shares were Friday untraded at 6.38 pence.
By Samuel Agini; [email protected]; @samuelagini
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