This has massive potential from products other than FUTURA which if it takes off will be the iceing on the cake.Let me give you the highlights from this Mays interims;
Financial Highlights
Financial performance improved significantly:
* Turnover increased by 9% to #20.1 million (2002: #18.4 million)
* Product sales increased by 25% on a constant US dollar exchange rate basis
* Earnings before interest, tax, depreciation and amortisation was #0.3
million (2002: EBITDA loss of #7.0 million, before exceptional items, as
restated)
* Gross margin 37% (2002: 33%)
* Selling, distribution and administration costs reduced to #4.8 million
(2002: #7.4 million before exceptional items)
* Profit before amortisation and research and development expenditure
#2.6 million (2002: loss of #0.8 million before exceptional items)
* Research and development expenditure #3.0 million (2002: #7.1 million,
as restated)
* Operating loss #1.3 million (2002: #9.2 million, before exceptional
items, as restated)
* Loss before tax #1.6 million (2002: #9.2 million, before exceptional
items, as restated)
* Loss per share 0.58p (2002: 2.58p, before exceptional items, as
restated)
Product Highlights
* Sales of existing products in line with expectations
- Sales of Assure range increased to #6.9 million (2002: #5.6 million)
- QuickTek sales to mail order market segment #2.6 million
- Sales of Futura Safety Scalpel #1.0 million in period
- Sales of Advance system #0.5 million in period
* Futura Safety Syringe and Flight disposable blood glucose monitoring
system remain on track for mid-2003 market launch
* Development of Spear capillary fill bio-sensor strip proceeding to
schedule.
Monday, September 29, 2003 8:28:27 AM ET
Dryden Financial
LONDON, September 29 (New Ratings) Analyst I Broadhurst of Dryden Financial issues a "buy" rating on Medisys (MDY.L).
2003 New Ratings
Now this looks to me a company growing rapidly.The more I look into MDY the more confident I become of the potential rewards.These will not be instantaneous but will come over a period of time.Look at the turnaround in those figures posted above.Now that was in a recession.