TIDMMED

RNS Number : 3017M

Medaphor Group PLC

07 January 2019

7 January 2019

MedaPhor Group plc

("MedaPhor" or the "Group" or the "Company")

Trading update

MedaPhor Group plc (AIM: MED), the intelligent ultrasound software and simulation company, announces that Group turnover for the year to 31 December 2018, which was generated entirely by the Group's Simulation Division, is expected to grow by approximately 27% to between GBP5.3m and GBP5.4m (2017: GBP4.2m). The pre-exceptionals EBITDA loss for the year is expected to be around GBP3m (2017: Loss, GBP1.7m). This includes approximately GBP1.5m of primarily R&D expenses attributable to investment in the Group's Clinical Artificial Intelligence Division which was established with the acquisition of Intelligent Ultrasound Limited ("IUL") on 6 October 2017 (3 months to 31 December 2017, IUL overheads: GBP0.2m). Group management, PLC costs and share-based payment charges included in the adjusted loss are expected to be GBP0.9m (2017: GBP0.8m).

GBP4.86m net of costs was received in December from the placing and open offer (RNS: 40941, 26 November 2018) and cash at bank at 31 December 2018 was GBP5.5m (2017: GBP4.3m).

Enquiries:

 
MedaPhor Group plc                                                       www.medaphor.com 
Stuart Gall, CEO                                                 Tel: +44 (0)29 2075 6534 
 Wilson Jennings, CFO 
 
Cenkos Securities - Nominated                                    Tel: +44 (0)20 7397 8900 
 Advisor and broker 
Giles Balleny / Cameron MacRitchie 
 (Corporate Finance) 
Michael Johnson / Julian Morse 
 (Sales) 
 
Walbrook PR                           Tel: +44 (0)20 7933 8780 or medaphor@walbrookpr.com 
Anna Dunphy / Paul McManus                            Mob: +44 (0)7876 741 001 / Mob: +44 
                                                                          (0)7980 541 893

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January 07, 2019 02:00 ET (07:00 GMT)

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