Nanosonics (ASX:NAN) rallies amid FY21 results

Company News

by Lauren Evans

Nanosonics (ASX:NAN) notes revenue of $103.1 million for the year ending 30 Jun 2021, up 3 per cent from the prior year.

The infection prevention company also noted full year consumables and service revenue of $76.4 million, up 9 per cent from the prior year.

Global installed base grew 13 per cent from the prior year to 26,750 units. Profit after tax reached $8.6 million, down 15 per cent from the prior year.

President Michael Kavanagh said, "Despite varying constraints and disruptions, the Nanosonics team continued to progress many aspects of our strategic growth agenda."

Nanosonics outlined continued growth in product expansion strategy with R&D investment of $17.2 million, increasing in line with revenue growth across multiple projects.

Progress was made on its new reprocessing product platform Nanosonics Coris, aimed at transforming the cleaning of flexible endoscopes.

Nanosonics AuditPro was launched, delivering a new digital workflow compliance management system, with potential applicability across a range of medical instruments. 

Despite the inherent risks and uncertainties associated with Covid-19, Nanosonics expects double digit revenue growth for FY22.  

Shares in Nanosonics (ASX:NAN) are trading 22.7 per cent higher at $7.23. 

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