Pro Medicus Limited (ASX: PME)- Pro Medicus’ shares are on fire today

  • Sep 03, 2018 AEST
  • Team Kalkine
Pro Medicus Limited (ASX: PME)- Pro Medicus’ shares are on fire today

Pro Medicus’ (ASX: PME) stock jumped 6.869% to $10.890 on 3 September 2018 after the healthcare technology company recently announced strong full years results for the period ended 30 June 2018.

Profit after tax has gone up by 36.7% to $12.74 million on the back of significant increase in the performance of the North American and European operations in addition to the unrealized foreign currency gains.

Underlying profit, which excludes currency movements was $12.57 million an increase of 27.4% from the previous year. Full year revenue of the group increased from $31.62 million in FY17 to $36.02 million in FY18, an increase of 13.9%. Revenue from European operation increased by 33.2% while North America’s revenue has gone up by 18.4% on FY17. 

During FY18 company has completed $18 million Yale New Haven contract, I-Med renewal and extension contract and $15 million Visage Open Archive deal with Mercy health.

Board has declared final dividend of 3.5 cents per share in addition to interim dividend of 2.5 cents paid during FY18. The fully franked final dividend is payable on 27 September 2018 with the record date of 7 September 2018.

The company seem to be positioned to take advantage of the emerging Artificial Intelligence technology in its healthcare imaging products.

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