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 steep 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.'

Bill Mobbs

Executive Chairman

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ITL Limited published this content on 13 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 June 2017 23:33:07 UTC.

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