MyHealthChecked makes wellness gains but reports lower interim sales

(Alliance News) - MyHealthChecked PLC on Friday reported a widening of its half-year loss, as revenue contracted and the business faced higher costs.

The Cardiff, Wales-based consumer home-testing healthcare company reported a loss before and after income tax of GBP1.4 million for the six months that ended June 30, widening from GBP1.2 million a year prior.

Driving the weaker bottom line was a mix of lower revenue and increased costs.

Revenue fell 44% to GBP494,000 from GBP881,000. However, the company reported a 60% improvement in wellness portfolio sales.

"This is a growing market, with rising demand, driven in part by increased in-store shelf space and retailer endorsement, which is improving customer awareness and understanding of the benefits of at-home wellness testing," it said.

Further hampering the bottom line were sales and marketing costs, up 17% at GBP317,000 from GBP272,000, while administration expenses rose 7.5% to GBP849,000 from GBP790,000.

Shares in the company were 4.8% higher at 11.00 pence on Friday morning in London.

Looking ahead, MyHealthChecked sees the potential for long-term growth in its wellness product range, as it noted the category's infancy and limited awareness amongst potential end users.

The company added that its commercial partnerships give it "confidence that we will continue to deliver year-on-year growth in end-user sales for our Wellness portfolio."

By Christopher Ward, Alliance News reporter

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