24 November 2017, Melbourne:
Thank you, Mr Chairman
We were pleased to report an improved and positive result for 2017 financial year.
• Revenue was $48.9m, compared to $44.0m in 2016 - increase of 11%.
• EBITDA was $4.6m compared to $2.6m in 2016 - increase of 77%.
• Net profit after tax was a profit of $1.0m, compared to a loss of $22.3m in the previous year (which included an impairment provision of $20.0m and the write down of a deferred tax asset).
The financial year to 30 June 2017 saw the Group return to profitability, with all product groups and services contributing to positive results. The Group’s result can be attributed to a significant investment, as previously announced, in R&D development of new products and diversification in the Group’s product offerings and services along with the continued rationalisation of production, supply chain and overheads.
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