30th Apr 2014 11:23
LONDON (Alliance News) - Ultrasis PLC said Wednesday that it expects to see further growth in its second-half as it moves towards profitability, after it posted a narrowed pretax loss for the half-year to end-January.
The interactive healthcare services company posted a pretax loss of GBP559,000, narrowed from a pretax loss of GBP632,000 in the previous year, despite seeing revenue decline slightly to GBP475,000 from GBP486,000, as it saw lower administrative expenses.
Ultrasis saw costs of GBP100,000 from three acquisitions, Screenetics Uk Ltd, Step Success Ltd and the Waterloo Health Clinic during the year, which hit profitability.
The company said it had made progress towards its goal of returning to profitability through targeted acquisitions and broadening its sales pipeline during the year, and noted that whilst it "would have liked to see actual income grow sooner," it had established a platform of contracts it expects to contribute regular income.
Ultrasis won contracts throughout the year that it said could potentially add GBP10 million in income over the next three years, and will begin to generate revenue later this year.
The company said it will continue to identify and acquired companies with the focus on returning to profitability within a year. It will invest into its technology and delivery infrastructure, it said.
Shares in Ultrasis were trading down 1.2% at 0.875 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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