Pro Medicus Profit up 24%

Medical IT solution provider Pro Medicus Limited (ASX:PME) today announced a 24.1% increase in after-tax profit to $4.09 million for the year to the end of June 2001. The profit was based on revenue of $10.26 million. Profit before tax increased to $6.25 million.

The company has declared a third and final dividend of 0.5 cents per share fully franked, taking the total dividend distribution for the year to 2.25 cents per share fully franked. Earnings per share was 4.09 cents.

Dr Sam Hupert, Chief Executive Officer of Pro Medicus, said the results reflected the company's most successful and profitable period in its 18-year history. "Previously our best result was for the year ending June 2000 where we also recorded significant revenue and profit growth. It is gratifying to have beaten that, especially against a backdrop of difficult market conditions due to a general economic slowdown and the disturbance caused by market rationalisation of the diagnostic imaging sector."

Pro Medicus is looking to build on the four significant contracts it won in the last financial year. These contracts were valued at $8 million and include an exclusive $5 million, three-year contract with Medical Imaging Australasia (MIA), Australia's largest diagnostic imaging provider. "These contracts help cement our position as the leading supplier of IT solutions to the private radiology market," said Dr Hupert. "They will provide substantial revenue in both the current and future years."

The company's e-health offering, promedicus.net, has continued to grow strongly. This service provides secure electronic results delivery between radiology practices and their referring doctors. To date more than 6,000 Australian doctors have signed up for the service with new registrations growing daily. "promedicus.net is arguably the only e-health initiative in Australia that is profitable and growing strongly " said Dr Hupert. "We have a strategic, first to market advantage and we look to continue to build on this position in the coming year."

Adding to the positive revenue outlook for the current year is the recently announced multi-million dollar business agreement with global medical imaging company, Agfa-Gevaert. Under this agreement Agfa has invested in a development which will allow Agfa and Pro Medicus to present a totally integrated digital imaging solution to the Australian radiology market.

This market is estimated to be worth in excess of $100 million over the next three years. Pro Medicus will see revenue from this agreement in the current year. The agreement also has the potential to open new growth areas in the healthcare market as well as provide Pro Medicus with the opportunity to export its software technology.

The company expects further growth in revenue and profitability in the current year.

For more information:

Dr Sam Hupert Managing director Pro Medicus Limited	Jane Cotter Monsoon Communications Phone: + 61 3 9620 3333
Email: hupert@promedicus.com.au Phone: +61 3 9429 8800 Facsimile: +61 3 9429 9544