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MedaPhor slides as wider loss expected for 2018 despite revenue rise

The firm said it expected a pre-exceptionals EBITDA loss for 2018 of around £3mln, wider than the £1.7mln loss in 2017 and in spite of a predicted 27% increase in revenues

Ultrasound
MedaPhor develops ultrasound simulation and AI software

Ultrasound software firm MedaPhor Group PLC (LON:MED) saw its shares slide in early trading Monday after its forecast a wider loss for 2018 despite an increase in revenues.

In a trading update for the year to 31 December, the firm said it expected a pre-exceptionals EBITDA loss of around £3mln, wider than the £1.7mln loss in 2017 and in spite of a predicted 27% increase in revenues to between £5.3mln and £5.4mln.

The company said the loss included around £1.5mln of research and development (R&D) expenses attributable to an investment in the firm’s Clinical Artificial Intelligence Division which was established in October 2017 following the acquisition of Intelligent Ultrasound Limited.

MedaPhor added that it had received £4.86mln in December from a placing and open offer with a year-end cash balance of £5.5mln compared to £4.3mln at the end of 2017.

Shares were down 3.2% at 7.5p.

Quick facts: Intelligent Ultrasound Group PLC

Price: 9.5 GBX

AIM:MED
Market: AIM
Market Cap: £20.9 m
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