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MediLink-Global UK Ltd
- BY: Andrew Hore |
- POSTED: 01/10/2009 |
MediLink-Global UK Ltd reported a sharp rise in revenues in the six months to June 2009.
MediLink supplies healthcare cards to individuals on behalf of health insurance companies or employers and can also provide outsourced back office work for companies as part of the service.
MediLink increased its revenues from £112,000 to £673,000 in the six months to June 2009. There was an initial three months contribution of £157,000 from the recent of Singapore acquisition. MediLink has been investing in growing the business so a £12,000 profit in the first half of 2008 was turned into a loss of £448,000 in the current year. The loss was exacerbated by a foreign exchange loss.
New insurance companies have been signed up which will enable growth over the coming year. The second half performance is expected to be much better than the first half.
Net cash was £449,000 at the end of June 2009 but this cash will not last for long. MediLink intends to raise more money to help finance growth. The cash can be sent on terminals which can be installed in hospitals and help to widen the customer base. There are 2,850 terminals in Malaysia, China and Singapore.
At 11.25p a share, MediLink is valued at £11.7m.
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