I think it willhttp://www.amerCOMNEWS ITD SYDNEY 1001/1/1 ITD -...

I think it will
http://www.amerCOMNEWS ITD SYDNEY 1001/1/1 ITD - Company Announcement $gen0 3 June 2009 Part 1/1 ---
ITL move results in cost savings

Sydney - Wednesday - June 3: (RWE Australian Business News) - Further to the publication of ITL's (ASX:ITD) has now completed the relocation of its head office from Canberra to premises in Melbourne shared with the Healthcare Australia business unit.

The relocation has yielded immediate benefits arising from the consolidation of finance resources that will deliver annualised operating cost savings of circa $300,000.

The Companys Hospital Supplies business unit located in Malaysia has reduced its dependency on the sale of high value capital equipment with the commencement of the distribution of orthopaedic implants manufactured by Stryker Corporation, one of the world leaders in this field.

This business is now generating consistent incremental monthly sales of MYR 1.2 million. Coupled with recent Malaysian government economic stimulus packages centred on major healthcare infrastructure, the Company is well positioned with an outlook for sustained growth.

Despite present economic conditions, the Companys Innovative Products business unit, which comprises manufacturing, research and development and sales and marketing operations, continues to deliver consistent results that have been enhanced by a favourable exchange rate against the U.S. dollar.

Full year sales growth is expected to exceed 25% over last year and while the Company acknowledges the impact and variability of currency gains; the underlying volume growth is robust and is expected to continue as the Company seeks to expand into new market segments.

ENDS 03-06 1518

icanchronicle.com/articles/yb/130925997