Medico-legal reports provider Mobile Doctors Group is seeking acquisitions after a £28,000 first-half pre-tax profits drop to £49,000.

Mobile Doctors, which floated on AIM after an £11.6 million reverse takeover by shell group Petsome, increased turnover 22 per cent to £7.7 million in the six months to May. The company, one of the leading suppliers of medico-legal reports for personal injury claims in the UK market, says ‘underlying operating profits’ surged 143 per cent to £526,000 in this period, but costs of £264,000 relating to outsourcing back-office functions and flotation expenses combined with a net financial loss of £213,000 to cut the pre-tax figure.

Chief executive Matthew Game says the company is preparing for future acquisitions and has already ‘held discussions with a number of targets’. Mobile Doctors has successfully negotiated a pricing and payment-timing agreement with the insurance industry, upgraded its technology and bought the run-off caseload of another group, IMS.

At 55p, down 1.5p this morning, Mobile Doctors’ shares are down from an 80p flotation price. They value the company at £8 million.

Mobile Doctors Group	AIM	£3.93m	23.50p	0.00p
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