Sirtex Medical Limited
(ASX:SRX) has announced a number of changes aimed at improving the company’s profitability.
The medical device company says it will reduce 15 per cent of its staff, with restructuring provisions (pre-tax) of $5.3 million in the second half of the 2017 financial year.
At the same time, it also announced a intangible clinical and R&D write-off non-cash (pre-tax) impairment of about $90 million for the same period, which removes future amortisation.
The company also says its underling EBITDA will be approximately $72 million before one-off items, while its FY17 dose unit sales have grown 5.5 per cent, with both measures performing within its guidance.
Shares in Sirtex Medical Limited
(ASX:SRX) last traded over 0.3 per cent lower to $13.49.
