Sydney, July 25, 2007 AEST (ABN Newswire) - IBA Health Limited (ASX: IBA) - Australia's largest listed eHealth company today advised that the unaudited profit before tax and amortisation (PBTA) for the year ending 30 June 2007 will be in the range of $31 - $31.5 million, compared with guidance of $30.7 million in February 2007 and PBTA of $18.1 million in FY2006. Revenue will be in the range of $74 - $75 million (FY2006 $59 million).
This result excludes one-off costs relating to the iSOFT acquisition, which to date have totalled $3.3 million net of the agreed break fee, payable if the acquisition does not proceed. These costs have been limited by an early decision to structure advisory fees for the deal on a success fee basis.
Gary Cohen, Executive Chairman, of IBA Health said, "We are delighted with this strong result, especially as we have exceeded the revised profit guidance in our half year report.
"The result reflects the continuing success of our international operations and our ability to achieve high margins as a result of investment in our technology centre of excellence in India and in cost-effective local deployment teams.
"We have strengthened the business during the year with the consolidation of our position in Malaysia and the opening of operations in China and South Africa. These two new operations have exceeded our expectations and have provided positive contributions in the second half of 2007," concluded Mr Cohen.
FY2007 results will be issued on Monday, 27 August 2007.
Contact
Gary Cohen
Chairman
IBA Health Limited
Phone: +61 2 8251 6700
gary.cohen@ibahealth.com
Media
Greg King
Communications and Business Development Director
IBA Health Limited
Phone: +61 413 621 111
Email: greg.king@ibahealth.com
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