Medilink-Global swings to profit in final results

Electronic healthcard network services provider Medilink-Global reported its final results for the 2015 calendar year on Monday, with total revenue increasing 10% to £1.54m.

The AIM-traded firm said of that, there was a significant increase in Malaysia revenue, rising 31% to £0.998m.

The company’s software licensing revenyes increased by 130% to £0.25m following the completion of the Great Eastern Life Assurance project, which contributed £0.213m of revenue in thhe period.

Medilink-Global registered a profit after tax from continuing operations of £0.322m, up from a 2014 loss after tax of £1.93m.

It said the main contributing factors were the gain on disposal of its subsidiary, Medilink Beijing, of £0.78m, tempered by an impairment loss of £0.32m, as well as the software licensing revenues from the GE Singapore project of £0.21m.

Administrative costs also decreased through the year by 10% to £0.46m, from £0.51m.