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Medical Australia Ltd posts 25% lift in top line revenue

Medical Australia Ltd posts 25% lift in top line revenue

Medical Australia (ASX:MLA) has lifted top line revenue by 25% to $14.8 million on the strength of a 12 month contribution from its animal health business.

Although the human healthcare business is the engine for MLA with $11.5 million in revenues for the 2014/15 financial year and a 15% improvement over 2014.

Organic growth opportunities for this appear sound for the human health business in the private sector as well as health department contracts and also from overseas expansion.

Overall, a net loss after tax was recorded of $216,879 compared to a profit of $105,241 for the previous period.

The company will either divest or dilute its interests in the animal healthcare business given significant investment in the business required.

The company said that development of a number of new treatments for dogs as well undertaking further validation studies at several universities should see a realisation of the carrying value of the animal health investment during the first half of the 2016 financial year.

The weakening Australian dollar against the U.S. dollar did not assist the results as over 80% of its human healthcare inventory is under USD denominated contracts. Mitigation of the effects on margins is being mapped out.

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