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Medica Group posts 15.6% jump in revenue

By BFN News | 09:39 AM | Thursday 24 January, 2019

UK teleradiology services company Medica Group reported a 15.6% year-on-year increase in revenue to £39m for the year ended 31 December 2018, which was driven by increased demand for its NightHawk and Cross-Sectional radiology reporting services. Medica said it expected to maintain its EBITDA margin of around 30% as seen in its first-half report and anticipated overall 2018 performance to be "in line" with market expectations. The company said it continued to generate cash and had zero net debt at the year-end. It had also increased its total number of contracted radiologists (including radiographers and rheumatologists) from 2017. As at 31 December 2018 it had 362 radiologists, compared with 306 a year earlier. "In 2019 we expect that the business will continue to grow at a similar rate to that seen in 2018 giving us confidence to increase investment to support future growth opportunities," said John Graham, Chief Executive Officer of Medica. Medica said it would publish final statutory results for the year ended 31 December 2018 on 25 March 2019. At 9:39am: (LON:MGP) Medica Group Plc share price was -1.5p at 119.8p Story provided by

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