News and Announcements
SUDA Announces Strong Revenue Growth for January 2017
- Published February 27, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
SUDA LTD (ASX: SUD), a leader in oro-mucosal drug delivery, announces today that it is wholly owned subsidiary Westcoast Surgical & Medical Supplies reported strong revenue growth in January 2017.
KEY TAKEAWAYS:
- Westcoast generated revenue of $714k for the month of January 2017, an increase of approximately 20% from January 2016 and 36% higher than the average month in 2017 financial year-to-date.
- Westcoast has recently been awarded several new contracts, including the supply of medical products to oil rigs and ships.
- Westcoast anticipates ongoing revenue streams from these new contracts and from other contracts that are in negotiation.
Mr Stephen Carter, SUDA’s Managing Director & CEO, commented: “We are delighted by the progress of our subsidiary, Westcoast. The company is successfully winning higher margin business to supply products to new clients based on its strong track record of excellent customer service. With positive cash flow and strong growth trajectory, Westcoast is a valuable asset within the SUDA group.”
SUDA LTD (ASX: SUD) is a drug delivery company focused on oro-mucosal administration, headquartered in Perth, Western Australia. The Company is developing low-risk oral sprays using its OroMist® technology to reformulate existing pharmaceuticals.
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