Medilink-Global UK Limited – Preliminary Results 2008

Medilink-Global UK Limited – Preliminary Results 2008

Preliminary Results 2008

Medilink-Global UK Limited (MEDI), the electronic health card network service provider, announces its maiden Preliminary Results, for the period ended 31 December 2008, since admission to the AIM market on 18 November 2008.

Financial highlights
• Revenue of £578,000
• Loss before tax of £38,000 as a result of increased in operating costs associated with the expansion into China
• Malaysian operating entity contributed 95% of the Group revenue and the remainder generated from its Chinese operations

Highlights
• Admitted to AIM having raised net £1.3 million net in November 2008 through a placing of new ordinary shares
• Successful signing of new Third Party Administrator (“TPA”) contracts with two insurance companies in the last quarter of 2008; one with a major Chinese insurance company, PICC Health Insurance ("PICC"), and another with a Gibraltar based insurance company, LAMP Insurance Company Limited ("LAMP")

Commenting on the results, Norman Lott, Chairman of MediLink said:
"The loss we made during this period was as a result of the increase in operating costs but with the positive progress achieved so far in 2009 from our market development activities in China, as well as in Singapore and Thailand, the Group’s financial performance for the financial year ending 2009 looks to be very promising." 

A copy of the report and accounts to 31 December 2008 was sent to shareholders on 10 June 2009 and a copy is also available on the company’s website, www.medilink-global.com.

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