Chairman’s and CEO’s Report
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RECORD PROFIT STRONG GROWTH AND 3 CENTS FULLY FRANKED INTERIM DIVIDEND
Medical Developments International Ltd. (ASX:MVP) delivered a Record Net Profit After Tax of $1,444,000 for the half year ended 31 December 2012, which represents a 25% increase on H1FY2012 ($1,156,000).
The financial result represents:
- 23% increase in Sales to $6,482,000
- 23% increase in Earnings before interest and tax to $1,951,000
- 165% increase in Sales of Asthma Devices in Australia
- 109% increase in Sales of Asthma Devices Internationally
- 66% increase in Sales from Medical Devices
- 267% increase in Sales of Penthrox to GP’s and Hospitals
KEY ACHIEVEMENTS
- Completed the Penthrox Phase III Pivotal Clinical Trial. All Endpoints successfully met
- Won tender to exclusively supply GSK Australia with Asthma devices
- Won international tender to exclusively supply Canadian Hospitals with Asthma devices
- Obtained approval from UK authorities to reimburse the cost of Space Chambers
- Established European Head Office
- Appointed distributors in Europe and Asia for Asthma devices
- Lodged application with the FDA to approve Asthma devices for sale in the USA
- Signed a research and development program with CSIRO for the manufacture of Penthrox
- Growth in New Zealand, GCC and the Middle East in Penthrox
- Australian growth in Penthrox in “Doctors Bag” and Hospital business for Penthrox
- Ongoing success and focus on improvements in manufacturing efficiency
- Completed Royal Adelaide Hospital trial for use of Penthrox in Colonoscopy