Revenues increased to $5.94m from $2.09m and there was a gross profit of $836,000 against a loss of $1.8m a year ago.

CEO Peter Botha said: "This has been a transformational period for the group, during which we have focussed primarily on the recovery and consolidation of our existing operations, which is now translating into growth and expansion across the group.

"The various initiatives which we have instigated across our portfolio are having a dramatic effect on revenue growth in addition to a vast reduction in operating expenses and operating losses.

"These achievements have ensured that African Medical is positioned strongly as it capitalises on the urgent requirement for quality international standard healthcare, particularly from the emerging middle classes, overseas business investors, governments and health insurers in Africa."

At 8:44am: (LON:AMEI) share price was +0.26p at 3.13p

Story provided by StockMarketWire.com