Updates

Medica Group

April 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in Medica, the UK’s largest provider of outsourced teleradiology services, have failed to bounce with improved market sentiment. This may be down to the fact that its pre-close update, while noting maintained EBITDA margins and a rise in full year revenue to £39m (thanks to higher demand for Nighthawk and Cross-Sectional Services), also said that it would increase investment in 2019.Analysts took this to mean an extra £0.5m investment in FY’19 and with forecast revenue growth of c. 15% remaining unchanged, that equates to a downgrade in EBITDA of 4% to £13.2m with eps clipped 5% to 8.8p.However, there’s no real cause for alarm as the main growth driver - an increase in fee earning te ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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