BUSINESS OVERVIEW
The financial year 2014/15 finished with total sales of 51,355 MAS units, 18.2% higher than in the previous year. The year finished on a positive note with growth of 21.2% in Q4, after an unexpected drop in sales in Q3, due to inclement weather in the North East of the USA and Canada.
New sales records were reached during the year in all three geographic regions. US direct sales grew by 23.7% during the past financial year, reflecting the impact of new products which were launched during the year and the positive impact of our various medical initiatives. European sales grew by 17.3%, with 6 new markets (Finland, UK, Ireland, Spain, Portugal and Italy) entered during the year. Some of these new markets needed more time than expected to achieve regulatory approvals, hire competent staff and therefore commence operations. During the second half of 2014/15 launch operations were completed in all the new European markets and expectations are that those markets will follow the positive trends seen in the “emerging markets” of Norway and Belgium, which were opened about two years ago. Sales volume grew in the APAC region by 13.6%. The majority of APAC sales are concentrated in Australia, where growth was 9.6% for the year, reflecting some limitations due to the lack of reimbursement for COATTM. Other countries in the APAC region include Japan, where sales grew by 30.7%, South Korea with sales growth of 34% achieved and South East Asia, where sales increased by 35.1% during the year.
To view Report please download PDF attached:
