The Medical House is a Sheffield based drug delivery specialist which has announced results today. These have demonstrated that over the last few months the company has made significant progress, disposing of non-core businesses and reducing its borrowings as a result.
Whilst the company is still very much in its formative stage, the results for the six months to 31 December 2007 revealed an increase in turnover (on continuing operations) to £780,000 from £709,000 in the comparable period in 2006. Following the disposal of its peripheral businesses it is now focused on its core drug delivery business, with the most important news being the signing of a six year agreement with a major global pharmaceutical manufacturer last November. This is set to generate significant revenues and profits for the group over the next few years. According to the company the first quarter of 2008 has got off to a good and profitable start and the company expects this to continue through 2008.