LONDON (Alliance News) - Medaphor Group PLC Thursday said it anticipates meeting expectations for its full year, as it posted a widened pretax loss for its first half as a result of increased investment in its sales and marketing.
Medaphor provides simulators for ultrasound training.
For the half year to end-June the company posted a pretax loss of GBP988,467, widened from a pretax loss of GBP756,411 a year before, as a rise in revenue to GBP1.1 million from GBP662,242 was offset by a jump in administrative costs.
The company listed on AIM last August, and said that since then it has launched several new training modules, a cloud-based service and translated its ScanTrainer product to make it available in six widely spoken languages.
Medaphor has been investing in its sales and marketing, adding new personnel in the UK and US, and said that its rise in revenue shows the effect of its expanded sales team coming through.
Medaphor said if it continues to perform in line with its expectations, it should not require to raise further cash to fund its operations until the second half of 2016.
Shares in Medaphor were untraded Thursday morning. It last closed at 58.80 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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