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Integrated Diagnostics Holdings PLC on Monday posted a fall in interim profit as Covid-related revenues dropped sharply.
Integrated Diagnostics is a consumer healthcare firm with operations in Egypt, Jordan, Sudan, and Nigeria.
Pretax profit in the six months to June 30 fell 37% to EGP649,568, around £28,803, from EGP1.0 million a year ago. Revenue decreased 15% to EGP2.0 million from EGP2.3 million, the Jersey-based company reported. Covid-related revenue dropped by 44% to EGP615,000 from EGP1.1 million.
‘I am certain that patients will continue to choose us as their trusted diagnostic services provider irrespective of the ongoing inflationary pressures,’ said Chief Executive Officer Hend El-Sherbini.
‘While we expect the current operational challenges to persist throughout the rest of 2022, I firmly believe that the robust mitigation measures we have put in place provide ample protection against possible future disruptions to the business. Coupled with our flexible business model and the inherently counter-cyclical nature of the healthcare industry, this sees us well placed to take full advantage of the vast growth opportunities offered by our markets,’ she added.
Integrated Diagnostics shares were flat at $0.90 each on Monday morning in London.
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