Updates

Patientline - Roll out slowed to bring profit sooner

December 2004

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Results for the year to 31 March showed sales increase dramatically from £16.1m to £23.3m as a further 9,300 terminals went live to take the number to 65,000 in 135 hospitals. The depreciation charge was £9.6m (2003:£7.8m) as Patientline spent a further £16m on its UK and Dutch rollout. This would have made its results look much worse than they were but for an impairment charge on certain assets last year. As a result, pretax loss reduced from £5.9m to £4.3m (but demonstrating the strength of Patientline’s cash generation EBITDA rose from £3.2m to £7.9m). Patientline said in order to focus on profitability and cashflow, the pace of the UK roll out ...

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