Melbourne, Victoria (PRWEB) March 05, 2013
Azure Healthcare Limited (ASX:AZV) has made dramatic progress over the past twelve months by refocusing the company’s existing business to match the core strengths. Focusing on the core Healthcare business and building a strong foundation for the recent acquisition of Sedco communications, has resulted in substantial revenue growth. In comparison with the previous corresponding period, revenue from ordinary activities is up 28.6% (from $8.79m Dec’11 to $11.31m Dec’12). The half year EBIT of $0.726 million is up 159%, NPAT from continuing operations of $0.566 million is up 633%, earnings per share of 0.34 cents has doubled and NTA is up 14.4% to 3.41 cents per share. The first half results for the Austco business unit has achieved record levels and expect the second half business to also be significantly above the corresponding period.
The new management structure has aided the recovery of Austco and continues to drive improvements across all segments of the business operations. The strategies of all businesses have been refined to reflect the opportunities for profitable growth and these have delivered stronger performance.
Austco has also increased spending in R&D, developing new products and also updating features and functionality to the existing product offerings. The investment in the Tacera 3G VoIP healthcare communication system continues to drive commercial success. On the 29th January 2013, the Company announced that its Canadian subsidiary had received a $USD1.8m ($AUD$1.74M) Purchase Order from Honeywell Canada for the supply and commission of the Tacera Nurse Call System to Oakville Hospital. The success of the Tacera 3G VoIP healthcare communication systems will also contribute to increased market share and company profits in the future.
‘I am delighted to announce the progress we have made in the last six months in the Azure Healthcare group and this is highlighted in the half year financial results. Everyone across the organisation has worked hard to create operational efficiencies which have cut down costs. We have moved forward in our technology offering in our new products which has fuelled growth in our sales. The successful acquisition of the assets of Sedco Communications has widened our network, offering our products to a wider customer base. Of course no company operates successfully without the support and goodwill of both its staff and clients and we would like to thank all our staff whose dedication to our clients has provided our turnaround and growth in the last year and also to our valued clients in the trust they have placed in our business to provide the advanced Healthcare communication solutions that they need to operate their businesses efficiently’, commented Robert Grey, Executive Chairman and CEO.
Austco is a wholly owned subsidiary of Azure Healthcare Limited, an international provider of healthcare communication and clinical workflow management solutions. The company is headquartered in Australia, has subsidiaries in six countries and supports more than 8,000 healthcare facilities through our global reseller network. Azure Healthcare (symbol ASX:AZV) is listed on the Australian Stock Exchange