(MENAFN- ProactiveInvestors - Australia) Pulse Health Group (ASX: PHG) director Andrew Gregory has increased his stake in the company with the purchase of a further 1.6 million shares on-market.
Gregory bought the shares for a total consideration of A$91,425, providing an average entry price of $0.057 per share.
Insider buying is considered by many as a "bullish" leading indicator.
Gregory now indirectly holds 36.4 million shares in Pulse Health.
Pulse Health continues to leverage the profitable private hospital sector, which is a strategy that is paying off.
With the acquisition of the Eden Rehabilitation Hospital, revenue from continuing operations grew to $24 million for the first half of the 2013 financial year, a $4.7 million or more than 24% increase over the same period in the previous financial year.
Excluding the Eden acquisition costs of $0.3 million, net profit after tax was $1 million, a 69.6% increase over the previous corresponding period.
As at 31 December 2012, Pulse Health had a total cash balance of $1.8 million plus an unused overdraft facility of $0.8 million.
The company continues to trade in advance of prior comparatives and is well placed to generate increased returns.
Pulse Health is progressing its brownfield expansion plans, which is expected to add bed capacity during 2013.
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