Sales revenue of $6,655,284 (2015: continuing operations $6,518,181: total Group $8,050,890), an increase of 2% over the prior period for continuing operations
Net profit in the reporting period was $252,206 (2015: continuing operations $390,419: total Group loss of $5,085,706).
The Group’s balance sheet has strengthened further with cash on hand of $1.03m (June 2016: $0.86m) and working capital of $3.15m (June 2016: $2.87m).
The Company has added additional sales and clinical staff along with higher levels of both marketing and advertising expenditure
A key development has been the approval of a range of the Company’s products for sale into the Queensland Government hospital network that will build on the growth achieved in fiscal 2016
The Company announced on 10 February 2017, that it had received notification from Carefusion, an OEM partner since 2003, that it would not be renewing its distribution contract with Medical Australia when it expires in May this year.
On 22 February 2017 the Company announced the signing of a strategic partnership with the Australian BreastFeeding Association in support of the Ardo range of breast pumps.
MLA Price at posting:
6.0¢ Sentiment: Hold Disclosure: Held
