Medtech Holdings posts profit

MEDTECH Holdings posted a profit after tax of $231 638 for the year ended December 2015 from a loss of $1,2 million registered the previous year.

In a statement accompanying the group’s financial results, Medtech said the improved performance was due to the weaker Rand. It said the group had benefited from translation of foreign denominated balances into United States dollars, as evidenced by the increase in net exchange rate gains included in the net finance income for the year of $855 739.

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