News

Optos profits soar, revenue growth on track

21 May 2008 09:33:00

Retinal imaging device maker Optos bounced back from its recent dip after almost quadrupling interim profit before tax and reaffirming revenue growth targets for the year.

Pre-tax profit for the six months to 31 March leapt to $1.8m from $0.5m the year before on revenue up 22% to $48.9m. Operating profit before share-based payments rose 33% to $5.6m.

The company said pay-per-patient revenue represented 91% of total income as the number of devices installed on a pay-per-patient basis jumped 20% to almost 3,500.

North America accounted for the lion's share of revenue, rising a fifth to $45.8m, while Europe chipped in with a 44% increase to $3.1m.

"We are on track to generate 20%-25% revenue growth and maintain a contract renewal rate in excess of 85% at the full year," said chief executive Thomas W. Butts.

"The group expects strong returns in the second half of the year from within the corporate customer segment and continued margin improvement as our initiatives are executed and as the business grows," added the group.

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