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News

CHAIRMAN’S AND CEO’S REPORT

Aug 23, 2012Cathy WilsonNews

CONTINUING GROWTH AND RECORD PROFIT

Medical Developments International Limited. (“MDI”) (ASX:MVP) delivered a Record Net Profit After Tax of $2,704,024 for the year ended 30 June 2012, which represents a 55% increase on FY2011 ($1,743,270).  MDI finished the year with $3.5 million of cash reserves after paying $2.7 million on clinical trials and two 3 cent fully-franked dividends during the year. The Board has declared a further 3 cent dividend for FY13.

The financial result represents:

  • 52% increase in Earnings Before Interest and Tax
  • 50% increase in Earnings Per Share
  • 40% improvement in Net Profit margin
  • 24% growth in Asthma Medical Devices sales
  • 247% growth in International Asthma Device sales
  • 20% growth in International Penthrox® business
  • 11% growth in sales for the full year
  • 19% growth in sales for the second half year

KEY ACHIEVEMENTS

  • MDI paid fully-franked dividends totaling 6 cents per share.
  • In August 2012 completed enrolment of 300 patients in MDI’s Phase III Clinical Trial in Europe.
  • Post balance date completed enrolment of a 250 patient colonoscopy study at Royal   Adelaide Hospital. Good progress of other pivotal clinical trials in Iran and Brisbane.
  • Signed exclusive Licence Agreement with Nippon Zoki to register and sell Penthrox® in Japan.
  • Launched a new range of Asthma space chambers nationally and internationally.
  • Signed exclusive distribution agreement with R Cegla GmbH & Co. in Germany to supply MDI’s range of space chambers in Germany.
  • Won international tender to exclusively supply New Zealand Government for three years with MDI’s range of space chambers.
  • Completed independent trial at University of Western Australia on MDI’s new space chambers confirming “best practice”.
  • Lodged a 510(k)application to allow the sale of MDI asthma spacers in the US.
  • Penthrox® sales grew by 6% and launched new Penthrox® Inhaler.
  • Appointed new distributors and restructured our Penthrox® in “Doctor’s Bag” business which grew 38%.
  • Signed agreement with CSIRO to develop an improved Methoxyflurane production process.
  • Ongoing success and focus on improvements in manufacturing efficiency with 6% improvement in operating costs to sales.
  • Established first European officewith Asthma Business Development executive.

Dividend

The Board of Directors is pleased to declare a Final Dividend of 3 cents per share fully-franked. 

MDI intends to make its Dividend Reinvestment Plan available for shareholders to use the proceeds from the Final Dividend to purchase MDI shares at a fixed price of $1.10 per share.

The timetable for the Final Dividend for the year ended 30 June 2012 is:

Key datesEvent
22 August 2012Declaration of Final Dividend.
5 September 2012Record Date for eligible shareholders to receive dividend
26 September 2012Date for shareholders to elect to participate in Dividend Reinvestment Plan
10 October 2012Payment Date


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Medical Developments International

Address:
4 Caribbean Drive, Scoresby,
Victoria, 3179
Australia
Phone: +61 3 9547 1888
Email: [email protected]
ABN: 14 106 340 667
For Medical Enquiries:

Phone: 1800 PENTHROX (1800 736 847)
Email: [email protected]

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