Medica Group PLC (LON:MGP) has announced that it has more than tripled its first-half profit as customer numbers grow.
The radiology services provider released its 2018 Interim Results today. Notably, revenue has increased by 18.2%. The figure has jumped from £15.7 million in 2017 to £18.6 million in 2018. In fact, adjusted operating profit increased by 15.4% to £5.0 million.
Moreover, Medica’s net debt has reduced significantly from £8.5 million in 2017 to £2.5 million.
Chief Executive Officer, John Graham, commented: “During the first six months of 2018, the Group has been investing in several medium- to long-term opportunities which will enable us to diversify our service offering and support growth.”
“We have continued to recruit radiologists to provide service to our customers and are confident that our capabilities can help our customers address the widely-reported radiologist shortage in the NHS.”
“Additionally, we continue to reduce net debt and expect this to be negligible by the year-end.”
“Overall, the Board expects the Company’s performance for the full year to be in line with market expectations.”
Correspondingly, at 10:46 BST Medica Group shares were trading at +1.45%.
