Cryosite : App4D and signed half year accounts December 2016 23-FEB-2017

About this update from Cryosite Limited

Cryosite Limited ABN 86 090 919 476 Appendix 4D Six months ended 31 December 2016 ('current period') and 31 December 2015 ('previous corresponding period') 0B Results for announcement to the market Details of Reporting Period The financial information contained in this report is for the half year ended 31 December 2016. Comparative amounts (unless otherwise indicated) relate to the year ended 31 December 2015. Results for Announcement to the Market $A'000 2.1 Revenue from ordinary activities: Up 4.5% to 5,183 2.2 Profit from ordinary activities after tax attributable to members: Up 22.8% to 253 2.3 Net profit for the period attributable to members: Up 22.8% to 253 Dividends The Board of Cryosite has on the 22nd February 2017 determined and is pleased to announce the payment of an interim unfranked dividend of 0.5 cent (half cent) per ordinary share. Key Dates: Ex Dividend Payment: trading commences 14th March 2017 Record Date - last date: for CTE share register 15th March 2017 Dividend payment Date 31st March 2017 Commentary on the results to the market: An explanation of the result of the current period is set out in the Directors Report contained in the attached audit reviewed half-yearly Financial Report. 3.0 NTA backing Current period Previous corresponding Period Net tangible asset backing per ordinary security 6.1 cents 6.6 cents 8B CRYOSITE LIMITED ABN 86 090 919 4 76 Half-Year Financial Report 31 Decembe r 20 1 6 CR YOS IT E LIMITED - H A L F- YEA R FI NANC I A L R EPOR T Table of Contents Directors ' Report Auditor ' s Independence Declara tion Directors ' Dec larat ion Interim Consolidated Statement of Comprehensive Income Interim Consolidated Statement of Financial Position Interim Consolidated Statement of Changes in Equity Interim Consolidated Statement o f Cash Flows Notes to t he Half-year Financial Statements Independent Auditor's Re v iew Report P AG E NO . 1-2 3 4 5 6 7 8 9 - 26 27-28 CR YOS ITE L I MITE D - H A L F - Y EA R FI NANC IA L REPOR T Directors' Report Your directors submit their report for the half-year ended 31 December 2016. Directors The directors of Cryosite Limited and its controlled ent i ties (the "Com pany ") i n office during the half year, and until the date of this Report are set out b elow. Directors were in office for t his entir e period unless otherwise s tated. Stephen Roberts (Non-Executive Cha ir ) - appointed on 8 I 12 / 2015 Andrew Kroger (Non -E xecutive Director) - appointed 21 /11/ 2011 Graeme Al l en Moore (Executive Director) - appointed 22 / 9 / 2008, resigne d 6 / 10 / 2016 Nicola Swift (Non -E xecutive Dir ec tor) - appo in ted 3 / 1 1/2016 Principal Activities Since i t was established in 2000, Cryosite has evolved into a company that h as successfully integrated a number of services including private cord blood storag e, bioreposi t ory management and s pec ial is ed distribution of biological ma ter ials and pharmaceutical products used in cl i nical trials. The services are grouped into two market segments, Individualised Consumer Biologics and Scientific Processing and Lo g i s tics. Review of Operations Group revenue for the half-year was $5, 183, 1 85 which was a 4.5% i n crease over the same period las t year ($4,956,23 1 ) and in line w i th r even ue over the six mon t h s to June 2016 ($5, 18 0,272). Pro fit befo r e tax for the period was $359,568 , a n increase of 25 % over the corresponding pe r i od in 2015. Cash flow remained s tron g with cash from operations generat in g a positive cas h flow of $746,916. During the period th e Company paid a final di v id end of $234,781 for t h e Ju ne 2016 year. O vera ll cas h increa sed by $421,61 1 during the period. The Company record e d an income tax expense of $ 1 06,527 though not all this is tax i s payable due to the availability of carried forward tax losses. The in crease in pre-tax profit of $72,091 over the corresponding peri od was driven by a com bination of increased revenues of 4.5% and reduced expenses in respect to Market ing and Administration expense. Durin g th e fust half of thi s financial year, the Company continued to in vest. The Board a nd its CEO comp l eted the build out of n ew senior management team, appo intin g a new C hi ef Mark e ting Officer and Chief Operating Officer. The Company also further invested its regulatory te a m , respons ib le for our dealin g with the Therapeutic Goods Administration (TGA). The Company continued to in ves t in market in g across vario u s media areas to build brand awa renes s and penetration in the cord blood and tissue category a nd ultimately our ma rket sha r e. The Company's in vestment in o nline media continues to be successful ha v in g contr i buted we ll t o reven u e performance of Cord Bl ood and Tissue thi s year. Additional investments in the traditional a r eas of ma r keting suc h

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