Tunstall trims costs to maintain profits

CUTTING costs helped Tunstall Group record a rise in pre-tax profits despite falling revenues.

The telehealthcare firm said it had been hit by reduced local authority budgets and the reorganisation of the NHS as well as delays to new assisted living schemes.

Pre-tax profit for the year to the end of September increased from £31m to £33.9m while turnover fell from £104.4m to £103.8m.

The company is looking to capitalise on growing interest in the use of technology linked to the telephone network to help monitor health conditions in people’s own homes.

Tunstall’s technology was used in a major Government trial involving 6,000 patients last year.

In the UK, revenues fell by 2.9% to £64.5m but across Europe that rose slightly to £29.8m while its Australia business benefitted from exchange rate movements.

The Whitley Bridge-based firm’s latest directors’ report identifies Australia, the US and Denmark as growing international markets.