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ITL Health Group expects strong growth in financial results

February posted highest monthly revenue and profit in 23-year history.
Shares are up over 60% year to date, priced at $0.555

ITL Health Group (ASX:ITD) is expecting a positive FY2017 result with the current half showing significant improvements over the corresponding period last year.

It also follows the follow the high growth achieved in the first half in which revenue grew 11% to $17.5 million, profit before tax increased 110% to $2.12 million and EBITDA rose 69% to $2.7 million.

ITL is an innovative global medical technology company made up of four divisions; ITL BioMedical, ITL Healthcare, ITL Clinical and MyHealthTest.

ITL creates and manufactures leading edge medical devices for the clinical, blood banking and laboratory markets and is a growing provider of specialist ancillary products for the blood culture testing market.

The company holds an intellectual property portfolio of 48 patents and sells into 55 countries.

MyHealthTest creates and markets highly innovative direct to consumer pathology testing for major chronic diseases.

Expected FY2017 results

ITL’s expected full year results include:

- Operating divisions have driven strong growth;
- Revenue of $35 million ($31.1 million FY 2016)
- Profit before tax $3.5-3.8 million ($0.3 million FY 2016);
- EBITDA of $5.0 million ($1.6 million FY 2016); and
- Successful targeting of $3.3 billion blood culture testing market.

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