The Group's maiden interims show strong growth for H1 17.
Companies: Medica Group Plc
Media Group (LON: MGP) has released its maiden interim report today that shows the Group has been busy in the first half of 2017.
The teleradiology company who works with the NHS went public in March this year, with an oversubscribed listing on the Main Market raising gross proceeds of £121 million at 135 pence per ordinary share. £15m was for the Company, whilst the rest of the proceeds were used to repay debt and associated listing costs.
The Group reported revenue up 17%, gross profit up 12%, operating profit up 15% and PBT up 42%, all compared to the same period last year.
Earnings Per Share is also up 40%, while Net Debt fell to £8.5m from £24.6m thanks to the capital raised for the Group's IPO.
Looking towards the end of the year, Group CEO John Graham said:
"We remain confident in Medica's long-term prospects and are on track to meet market expectations as we enter the traditionally stronger second half to the year."
Medica will issue its first dividend of 0.55p per share off the back of their H1 17 results.
Since the Group began operating in 2013, Revenue has risen steadily year on year, with FY 17's forecast of £35m more than triple Medica's £9.5m Revenue in 2013.
Net profit margins have also increased significantly for the Group, with 2017's forecast of 7.3m more than double that of 2016.