Georgia Healthcare Group improves Q1 net profit

Shares in Georgia Healthcare Group are down almost 3% as it posted an improved first-quarter net profit, with both revenue and EBITDA ahead.

Net profit was GEL13.0m (about £4.3m), up 8.4% on the year. Its revenue was GEL186.6m, up 157.1%, while EBITDA was GEL25.1m, up 46.3%.

"We believe we remain well positioned to deliver another strong performance in 2017 and beyond," the company said.

It noted that EBITDA and EBITDA margin were down on the year in its healthcare services, but up in its pharma business. EBITDA was negative in its medical insurance business.

At 10:24 BST, shares in Georgia Healthcare were down 2.87% to 355p each.