Location continues to see increased revenue growth month over month

Diagnostic imaging services provider, Elite Diagnostic Limited has resolved the issues dogging its St Ann location, where business is now surpassing expectations.

Net profit for the year was negatively impacted by challenges at St Ann’s branch and COVID-19. With the challenges resolved, the St Ann location continues to see increased revenue growth month over month.

With the increasing demand for imaging services, Elite Diagnostic has purchased a new Magnetic Resonance Imaging (MRI) system that will be operational early 2022 and will be located at the Liguanea branch.  The addition of the new MRI will reduce the company’s operating hours and its related expenses.

Revenues up but profits down for the year

Revenues for the year ended June 30 amounted to $502.3 million compared to $439.8 million made during 2020. Revenues for the fourth quarter were $136.7 million compared to $92.0 million made during the same period last year. 

Net profit for the year was $0.7 million compared to a profit of $8.6 million the previous year, a reduction of $8 million. Net profit for the quarter under review was $3.5 million compared to a loss of $12.5 million booked the previous year.

Total assets totalled $698.4 million compared to $690.6 million the previous year. Total liabilities were $237.9 million compared to $230.8 million the previous year.

Elite Diagnostic is pleased to declare its first dividend payment to shareholders in the amount of $0.09 per share. The payment date is October 5, 2021.