|
Integrated Diagnostics Holdings PLC on Wednesday said early 2025 trading has ‘set the tone’ for the remainder of the year, as it posted improvements in revenue and normalised net profit. The Jersey-based diagnostic services provider with operations in Egypt, Jordan, Nigeria, Sudan and Saudi Arabia said net profit fell 39% in the first quarter of 2025 to EGP245 million, about $4.9 million, from EGP402 million a year earlier. However, revenue increased 35% to EGP1.58 billion from EGP1.17 billion, with Integrated Diagnostics owing the expansion to a 37% year-on-year increase in average revenue per test, noting that this more than offset a ‘slight decline’ in volumes. Integrated Diagnostics added that lower volumes were a consequence of an anticipated seasonal slowdown tied to Ramadan, adding that for 2025 it began slightly earlier at March 1, compared to March 11 a year prior. Discussing the weaker earnings amid the improved top line, Integrated Diagnostics noted a ‘significant boost’ given to the prior year’s profit from foreign exchange gains. Controlling for these gains, normalised net profit more than doubled to EGP214 million from EGP100 million. Its shares were up 2.9% at $0.36 on Wednesday afternoon in London. Chief Executive Hend El-Sherbini said: ‘We are happy to report a strong start to the new year which saw us build on the progress made throughout 2024 to deliver robust growth in our top-line and further improvements in our profitability. ‘Our performance for the first quarter sets the tone for what is to come in the remainder of 2025 as we continue to generate incremental growth and value across both our more established and newer markets.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
