Wed 24 Oct 2007
HEALTHCARE company Ultrasis yesterday posted a 27 per cent increase in revenues, helped by an announcement from the government that its "Beating the Blues" programme should be available from April 2007 to all patients with mild to moderate depression via their GPs.
In the year to July, turnover was up to £1.58 million from £1.24m the previous year. But pre-tax losses widened over the period to £764,000 from £363,000.
The firm, which has a market capitalisation of £15m, said moves into new markets for its products and continued sales successes had produced a strong cash balance, with no borrowings, and a sales pipeline making Ultrasis "financially secure and self-financing".
The company said it was enjoying success in markets other than the NHS. A recent contract win was with ICAS, a leading employee assistance provider.
Chief executive Nigel Brabbins said: "ICAS is a new customer for Ultrasis, in a significant new market, underlining the substantial potential for Beating the Blues in markets beyond those where it is currently deployed.
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