Sleep device maker SomnoMed Limited
(ASX:SOM) says that September sales have grown by 25 per cent year-on-year with record results across the globe.
The result comes even during the seasonally weak northern summer with emerging markets such as Norway, France and Italy showing strong sales. Core markets in the US, Sweden and Holland also produced solid growth results for core sleep apnea products.
Somnomed was recently granted US medicare approval for its oral appliance sleep devices.
The company is confirming guidance for 25 per cent growth 2014/2015 after achieving 40 per cent growth in revenue the previous financial year.
A recent share purchase plan was 4 times oversubscribed and raised over $6 million to double production capacity and fund working capital.
SomnoMed reported a net profit of $215,000 for the full year ended 30th June 2014 and hopes to realise profits of between $2 million and $4 million this financial year.
