Optima Health flags better-than-expected full-year earnings

(Sharecast News) - Optima Health said in an update on Friday that full-year adjusted EBITDA was expected to come in around 10% ahead of market expectations, driven by strong second-half performance and continued progress against its strategic objectives.

The AIM-traded provider of technology-enabled corporate health and wellbeing solutions said trading for the year ended 31 March had exceeded expectations, with momentum supported by its expansion strategy and operational delivery.

It highlighted the recent acquisition of PAM, which completed on 26 March, as a transformational step that strengthened its position in the occupational health market.

Optima said the enlarged group is well placed to capitalise on growing demand while benefiting from operational and cost synergies, supporting its medium-term targets of £200 million in revenue and £40m in adjusted EBITDA.

Separately, the group confirmed that a previously-disclosed procurement matter had now been settled.

It recognised other operating income of £2.3m in the first half and a further £2.4m in the second half of the financial year.

"Optima's strong financial performance in H2, ahead of market expectations, reflects the consistent progress we have continued to make against our strategic objectives," said chief executive Jonathan Thomas.

"The recent transformational acquisition of PAM has further solidified Optima's position in the attractive and growing occupational health market.

"We look forward to increasing our presence in our core markets, alongside seeking new opportunities, as we continue to accelerate growth."

Optima said it would provide a full trading update later in the second quarter.

At 1014 BST, shares in Optima Health were up 4.72% at 188.5p.

Reporting by Josh White for Sharecast.com.

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