· Revenue up 12.3% to $54.4 million (HY15: $48.4m)
· Operating EBITDA was maintained at $8.5 million (HY15: $8.5m )
· Operating NPATA down to $3.8 million ( HY15: $4.3m)
· Statutory EBITDA of $8.2 million (HY15: $8.5m)
· Statutory NPAT of $3.1 million (HY15: $4.2m)
· Interim dividend declared of 5.0 cps unfranked ( HY15: 7.5cps)
Key Highlights· HY16 Revenue exceeded prior corresponding period by 12.3%.
· Capital equipment revenue growth of 21.6% was driven by the acquisition of M4 Healthcare with organic growth impacted by phasing differences in tenders and large capital in the corresponding period.
· Growth of 5.8%in implants reflects modest above-market growth with momentum from accelerated new active surgeons partially offset by reduced procedural volumes across top 15 surgeons and product launch delays.
· Gross Margin improvement against headwind of AUD FX deterioration
· Successful completion and integration of Medical Devices Australia Cardiology & Thoracic Pty Ltd in October 2015
· Investments in new product platforms, expansion of customer base and fully consolidated acquisitions provides a strong pathway for growth in H2 and FY17
· Transitioned executive leadership team
DividendThe Directors are pleased to declare an interim dividend (unfranked ) of 5.0 cents per share. This follows a 7.5 cent final dividend paid in September 2015 (un- franked ). This represents a payout ratio of 69% of Statutory NPATA.
