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Consumer healthcare company Integrated Diagnostics suspended a decision its dividend despite reporting a rise in profit as revenue was bolstered an increased pricing and higher test volumes.
'Due to the Covid-19 pandemic and consequent uncertainty regarding the macroeconomic environment,' the company said it had deemed it more appropriate to focus on retaining resources and would suspend the dividend decision until September 2020.
For the year ended 31 December 2019, pre-tax profit rose to EGP 758m from EGP 717m a year earlier as revenues increased to EGP 2.2bn from 1.9bn.
The increase in revenue was supported primarily by improved average pricing as well as higher patient and test volumes.
'Egypt was the primary driver of growth during the year, recording an 18% year-on-year increase in revenue to EGP 1,903m in 2019,' the company said.
At 9:36am: (LON:IDHC) Integrated Diagnostics Holdings Plc share price was +0.1p at 3.39p