Avita records 16% revenue increase

Perth-based Avita Medical Ltd, formerly Clinical Cell Culture, has posted a 16 per cent increase in unaudited revenue over the 2008 financial year, underpinned by strong growth sales of its respiratory products.

In a statement today, the company said its re-focused sales and marketing strategy, following the merger with Visiomed Group Ltd, was yielding positive results.

The company said group revenue for fiscal 2008 was expected to be up by $2.6 million, following a $2.3 million boost from sales of the company's suite of respiratory products.

"Revenue growth for the period was led by increased domestic sales in Australia and early sales in overseas markets through recently appointed distributors," Avita said.

Through key partners, the company is currently expanding its European market base while it is working to accelerate clinical acceptance of the Funhaler in the United States.

"Avita Medical has undergone a major transformation following the merger of Clinical Cell Culture and Visiomed Group with implementation of significant changes in organisational structure and focus," Avita chief executive Dr William Dolphin said.

"I am pleased with the sales figures and am confident that our refocused strategy will
continue to yield significant revenue growth. Our management team will not be satisfied
until this has been achieved."

The quarterly report will be released later this month.