Sirtex Medical Provides Trading Update

Sirtex Medical Limited (ASX:SRX) today announces that its unaudited, first-half Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the six months ended 31 December 2017 is expected to be to approximately $34 million, reflecting 16% growth on the prior corresponding period pcp.

Worldwide dose sales of SIR-Spheres® Y-90 resin microspheres were flat for the half versus pcp.

Mr Andrew McLean, Chief Executive Officer of Sirtex Medical Limited commented “As a result of recent management initiatives, we anticipate higher sales in the second half, with ongoing targeted reductions in operating expenditure to drive business efficiencies and productivity gains, resulting in forecasted full year EBITDA in the range of $75-85 million. This compares to an underlying EBITDA1 of $61.5 million reported in the 2017 financial year. Cash flow generation is expected to remain strong given our high levels of EBITDA conversion to cash flow coupled with lower investing cash flow, resulting from the completion of our major clinical studies.”


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