Elite Diagnostic Limited Reporting Improved Revenues Of JA$297M Compared To JA$263M In 2017.
The Directors of Elite Diagnostic Limited have released the company’s Audited Financial Statements for the year ending June 30th 2018, reporting improved revenues of JA$297M compared to JA$263M the previous year.
Net profit for the year amounted to JS$44.9M compared to $44.2M the previous year.
The Directors addressed the recently opened Liguanea branch, which they had, challenges with, but is now fully operational, reporting revenues of JA$19M since opening in late 2017.
The company expects significant revenue growth from the Liguanea location now that the 3T MRI’s are operational.
Managing Director Warren Chung in his March 2018 report to shareholders pointed to the positive revenue impact from the new Liguanea location, which had recorded JA$6.9 million for the third quarter, compared to JA$2.5 million for the second quarter, as demonstration of this.
The Directors report that they continue to invest in state of the art equipment with assets increasing 240% from $187M to $454M.
Construction is underway at the St. Ann’s Bay MRI location and it is now expected to be operational early 2019.BM