Ellex reports profits up

Ellex Medical Lasers has reported a 16% increase in profits for the year ended 30 June 2010.

“Softer world markets in 2009, particularly in Europe and in the United States, impacted revenue over the past year, but we expect conditions to improve worldwide from 2011 onwards as industry demand strengthens. We are also encouraged by strong demand in Asia, which offers significant opportunity for the future growth of our business, ” said Simon Luscombe, Ellex chief executive officer.

In the 2010 financial year the business has launched two new products. The Eye-Cubed diagnostic ultrasound system enabled it to access new European markets and Asia and its integrated yellow laser photocoagulator, the Integre Yellow was also introduced to Europe, “ The new generation ultrasound will enable us to strengthen our global market presence, ” said Luscombe.