Proactive Investors - Run By Investors For Investors

Ellex Medical Lasers Ltd awarded $2.5M federal government grant

Ellex Medical Lasers Ltd awarded $2.5M federal government grant

Ellex Medical Lasers Ltd (ASX:ELX) has been awarded a grant of $2.5 million from the Australian federal government’s “Next Generation Manufacturing Investment Programme”.

The grant will facilitate the investment in advanced equipment and systems needed to expand Ellex’s manufacturing capacity.

Ellex manufactures lasers and other medical devices for the diagnosis and treatment of eye disease.

The award of this grant corresponds with Ellex’s manufacturing site relocation from the Adelaide CBD to Mawson Lakes, 15 kilometres north, and corresponding production capacity expansion.

The grant is payable by the government to Ellex over a period of up to 3 years.

Ellex’s revenue for the year ended 30 June 2016 is expected to be about $72.9 million, a $10.1 million (16%) increase compared to the prior corresponding period.

Significantly, estimated profit before tax for FY2016 is $4.2 million, a 61% increase from $2.6 million in FY2015.

Ellex’s share price has increased by more than 45% since the start of 2016, last trading at $1.09.


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

View full ELX profile View Profile

Ellex Medical Lasers Timeline

November 30 2016

Related Articles

October 18 2018
Sativa Investments has taken a big step towards becoming the UK's first seed to consumer medicinal cannabis business
December 03 2018
Since September, the group's portfolio has steamed ahead with a number of new and successful clinical trials, as well as a boost from the float of one of its companies on the Nasdaq
May 14 2018
Physiomics' share price surged on a €500,000 contract for its virtual tumour software with Merck KgaA.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use