One Health profit soars amid rising demand for medical support

(Alliance News) - One Health Group PLC on Monday reported strong growth across the business ...

Alliance News 24 June, 2024 | 12:30PM
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(Alliance News) - One Health Group PLC on Monday reported strong growth across the business driven by NHS demand and expanded capacity.

The Sheffield, England-based company provides the NHS with consultant surgeons and healthcare managers.

In the year that ended March 31, the company reported a pretax profit of GBP1.5 million from GBP80,145 the previous year.

Revenue increased 14% to GBP23.3 million from GBP20.5 million, while administrative expenses fell 21% to GBP2.7 million from GBP3.4 million.

One Health reduced the final dividend by 6.2% to 4.07 pence per share from 4.34p, while the total dividend increased by 1.6% to 6.10p from 6.00p.

The company finished the year with cash at bank of GBP4.7 million, up 42% from GBP3.3 million.

Chief Executive Officer Adam Binns said: "the three drivers of our growth - more patients, more surgeons and more operating theatre capacity - continue to be the mainstays of our business model, as they have been for the last 20 years since the business was established."

During the year the company carried out 13% expansion in outpatient capacity taking the total number of outreach clinics to 35.

Looking ahead, management expects growth to continue with patient referrals expected to increase with the NHS waiting list.

"We are confident we can achieve our future forecasts with organic growth supplemented by our own surgical capacity when required. We remain a nimble and agile company to take advantage of opportunities offered in a rapidly evolving health sector," the company said.

One Health shares were flat at 195.00 pence each in London on Monday.

By Elijah Dale, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
One Health Group Plc Ordinary Shares 185.00 -

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