Nanosonics lifts on stronger first-half performance
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The news: Medical equipment maker Nanosonics has flagged an improved performance for the first half of the financial year, sending its shares higher.
The numbers: Based on unaudited figures, the company expects first-half profit before tax of $10.9 million, up from $4.9 million a year ago.
Revenue for the six-month period is likely to be $93.6 million, up 18% from a year ago.
Nanosonics shares are up nearly 2% to $3.83 in early trading on the ASX.
The context: Nanosonics chief executive Michael Kavanagh said the revenue growth was driven by a 20% increase in consumables and service annuity revenue streams.
While the total number of Trophon disinfection devices was steady, overall capital revenue was up 11% from a year ago.
What they said: “Nanosonics currently expects to achieve revenue, gross margin and operating expenses in FY25 around the top of each of the ranges for those measures specified in the FY25 outlook statement,” Kavanagh said.
The source: ASX announcement
