Nanosonics’ net profit slide 57 per cent to $3.7 million, while revenue leapt 17 per cent to $120.3 million, as more hospitals adopted its disinfection device.
A step-up in research and development investment and a switch to a direct sales model in North America has eroded the profits of disinfection device company Nanosonics.
profit before tax had declined from $11 million last year to $1.6 million. Net profit also took a major hit, sliding 57 per cent from $8.6 million to $3.7 million. While profits took a hit as the company navigated the sales model transition, Nanosonics’ revenue grew 17 per cent to $120.3 million, thanks to continued growth in Trophon sales, as well as consumables and services. In the second half, however, revenue dipped 2 per cent compared to the first half.North America was the company’s strongest performing, and largest, region, with revenue surging 20 per cent to $106.9 million.
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