18/10/2013 - 07:44

Suda subsidiary revenue up 200 per cent

18/10/2013 - 07:44

Bookmark

Upgrade your subscription to use this feature.

Suda's fully-owned subsidiary Westcoast Surgical and Medical Supplies has reported its strongest quarter to date.

Suda subsidiary revenue up 200 per cent

Suda's fully-owned subsidiary Westcoast Surgical and Medical Supplies has reported its strongest quarter to date.

Revenues are up 200 per cent to $3.3 million and net profit was $720,000 when compared with the prior comparable period.

Westcoast, based in Perth, provides sales and logistics for medical devices and consumables around the nation.

In August 2013, Westcoast secured preferred-supplier status for an organisation funded by the Australian government.

"The comparable revenue growth of more than 200 per cent is ahead of our internal expectations," Suda chief executive Stephen Carter said.

"Clearly the new contract has made a valuable contribution to Westcoast's performance. Although revenues from this source may have a seasonal variation, we believe that Westcoast has entered a new era in its operations."

Osborne Park-based Suda (formerly Eastland Medical Systems) is a drug delivery company focused on oro-mucosal administration.

Suda opened 11 per cent higher today trading at 3 cents.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options