ITL Health Group (“ITL”), an innovative global medical technology company, expects to announce very positive results for the financial year to 30 June 2017.
The second half results will show a significant improvement over the corresponding period in FY2016 and follow the high growth achieved in the first half in which revenue grew 11% to $17.5m, PBT increased 110% to $2.12m and EBITDA rose 69% to $2.7m.
Expected Full Year Results—Highlights:
- Operating divisions have driven strong growth
- Revenue of $35m ($31.1m FY 2016)
- Profit Before Tax between $3.5m to $3.8m ($0.3m FY 2016)
- EBITDA of $5.0m ($1.6m FY 2016)
- Successful targeting of $3.3bn Blood Culture Testing market
- February posted highest monthly revenue and profit in ITL’s 23 year history
- $4m spent on R&D ($2m on MyHealthTest). $3m of the $4m has been expensed.
The improved Full Year results have been driven by continued growth in the operating divisions, ITL BioMedical and ITL Healthcare.
Bill Mobbs, Executive Chairman commented: “The financial year has seen a step change for ITL. Our strategy to pursue high margin opportunities in emerging healthcare growth markets, and accelerate development of innovative patented products for the global healthcare markets has been a success.”
“We look forward to reporting positive Full Year results and the Board is looking to the remainder of 2017 and 2018 with confidence.”