Watchstone swings to profit after healthcare asset sale


Technology company Watchstone swung to a full-year profit after it booked a gain on the sale of its healthcare services business.

Watchstone said its plan prepared its other businesses for future sale remained on track.

Pre-tax profit for the year through December amounted to £30.9m, compared to a loss of £18.9m for 2018. Revenue fell to £7.3m, down from £7.8m.

Watchstone reiterated that 'notwithstanding the Covid-19 situation' that it hoped to complete a further cash return to shareholder of £50.5m before the end of June.

'As we continue to resolve the remaining legacy issues, we hope to return more cash to shareholders as soon as practicable,' it added.

At 9:34am: (LON:WTG) Watchstone Group Plc share price was 0p at 157.5p

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