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Medica Group PLC - Hastings, England-based company which provides services such as x-ray and MRI scan analysis to hospitals - Reports double-digit annual growth in 2022. Revenue rises 24% year-on-year to £77.0 million from £61.9 million, as pretax profit jumps 18% to £8.6 million from £7.3 million. Says the revenue increase is due to continued strong performance from Acute services. Underlying operating profit rises by 13% to £13.6 million for 2022 from £12.1 million in 2021.
Proposes a final dividend of 1.88 pence per share, up 5.0% from 1.79p a year prior. This would take the total dividend for 2022 to 2.81 pence per share, up 4.9% from 2.68p a year prior. Says outlook remains strong, with ongoing demand underpinning further double-digit growth in the medium term. To meet demand will focus on ‘increasing reporting capacity and enabling greater productivity for radiologists, radiographers and other specialist doctors who choose to work with Medica’.
Chief Executive Officer Stuart Quin says: ‘Against a market backdrop in which demand for Medica’s services is higher than ever, we are pleased to report a period of double-digit growth underpinned by the expansion of our acute services, new contract wins, the continued strong performance of Medica Ireland and RadMD, and the recovery of Elective capacity after some mid-year capacity constraints.’
Current stock price: 155.00 pence each, up 4.0% on Wednesday morning in London
12-month change: down 6.1%
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