On 25 March Medserv plc issued its 2008 preliminary results showing a substantial increase in revenues to €15.6 million compared to €4.7 million in 2007. The Group’s gross profit also surged to €3.1 million (2007: €1.4 million) but its profit margin declined to 20.03% from 29.29% in 2007. This drop was due to the provision of low margin services which had to be performed to offer the Company’s clients a complete service.
Medserv’s profit attributable to shareholders amounted to €1.1 million contrasting last year’s loss of €5,059 mainly due to the strong performance of its Libyan subsidiary – Medserv Misurata Free Zone Company.
The Directors recommended the payment of a final net dividend of €0.039 per share subject to approval at the Annual General Meeting scheduled to be held on 19 May 2009. Shareholders as at closing of trading on Friday 3 April will be entitled to this dividend and will be eligible to attend the AGM.
A copy of the Preliminary Profits announcement can be downloaded here.
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