Business
Update on Q1 2016 Results
Update on Q1 2016 Results.
About this update from Integrated Diagnostics Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 8827X Integrated Diagnostics Holdings PLC 11 May 2016 \n\n \nFor the purpose of the Transparency Directive the Home Member state of the issuer is the United Kingdom.\n \nIntegrated Diagnostics Holdings Plc\nCompany Statement\nWednesday, 11 May 2016\n \nUpdate on 1Q 2016 results\n \n1Q 2016 Financial & Operational Highlights\n\n\n\n\n•\n\n\nRevenues up 16%y-o-y to EGP 274 million.\n\n\n\n\n•\n\n\nEBITDA margin of 46% \n\n\n\n\n•\n\n\nTests completed up 4% y-o-y to 5.9 million tests.\n\n\n\n\n•\n\n\nAverage revenue per test up 11.5% y-o-y.\n\n\n\n\n \nJersey, 11 May 2016\n \nIntegrated Diagnostics Holdings ('IDH'), IDHC on the London Stock Exchange, Egypt's largest fully integrated private-sector provider of medical diagnostics services, released today unaudited highlights of its financial and operational performance in the first three months of 2016, reporting a 16% rise in total unaudited revenues to EGP 274 million.\n \nAs per management accounts, the company reported unaudited EBITDA of EGP 125 million in 1Q2016 (an increase of 15% year-on-year), with an EBITDA margin of 46%, on par with the same quarter of 2015 despite a change in accounting policies to accrue costs including annual employee bonuses and provisions on debtor accounts on a quarterly basis rather than booking them only at year's end.\n \n\"Egypt, which accounted for 90% of our revenues in the first quarter of 2016, continued to be marked by high inflation that has impacted consumer behaviour, a development that has seen a continued shift in our mix of walk-in versus corporate clients,\" said Chief Executive Officer Dr. Hend El-Sherbini. \"Despite these conditions, management accounts indicate that IDH has again delivered double-digit top-line growth that has largely filtered down the income statement to our bottom line despite a change in accounting policies in the first quarter to accrue certain costs and provisions on a quarterly basis that were previously booked only at year's end.\n \n\"Looking to the second half and beyond, we remain sharply focused on four key strategic goals: to continue expanding our customer reach; increase the number of test per patient by expanding our services portfolio; use the Mega Lab's enlarged capacity to provide services to third-party labs and hospitals; ...