1.0 Details of the reporting period and the previous corresponding period

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1 Name of entity ITL Limited Appendix 4E ITL Limited Year Ended 30 June 2012 Rules 4.3A Appendix 4E Preliminary Final Report ABN or equivalent company reference Details of the reporting period and the previous corresponding period Reporting Period: 30 June 2012 Previous Corresponding Period: 30 June Results for announcement to the market Should be read in conjunction with most recent annual financial report $A' Revenue from continuing operations Revenues from ordinary activities Up Down 1% 25% to to 28,283 30, Profit/(loss) from continuing operations after tax attributable to members Profit/(loss) after tax from ordinary activities attributable to members 2.3 Net profit/(loss) for the period attributable to members Up 120% to 2,751 Up 41% to 1,323 Up 41% to 1, Dividends (distributions) N/A No dividends were paid or payable Refer Note 5 of attached Financial Report for Year Ended 30/6/ Record date for determining entitlements to the dividend N/A 2.6 Brief explanation of any of the figures reported above necessary to enable the figures to be understood. Refer to ASX Announcement and attached Review and Results of Operations 1

2 Appendix 4E ITL Limited Year Ended 30 June NTA Backing Current period Previous Period 30 June June 2011 Net tangible asset backing per ordinary security 9.9 cents 9.4 cents Net Asset Backing per ordinary security 11.9 cents 11.4 cents 4.0 Control gained or lost over entities having material effect ITL Limited sold 100% of its shares in ITL SEA Sdn Bhd and its wholly owned subsidiaries ITL Healthcare SEA Sdn Bhd and Heal Mediware Sdn Bhd. ITL Limited lost its power to govern the financial and operating policies of the group under an agreement on 1 January 2012 and hence has deconsolidated the entity on 1 January Accordingly, this division which had been reported as a separate segment by itself is reported in this financial report as a discontinued operation. The financial impact of this discontinued operation is set out in Note 4 of the attached Financial Report for the year ended 30 June Material interests in entities which are not controlled entities The economic entity has an interest (that is material to it) in the following entities. Nil 6.0 Compliance Statement The preliminary final report has been prepared based on 30 June 2012 accounts which are in the process of being audited by an independent Audit Firm in accordance with the requirements of S302 of the Corporations Act Attachments forming part of Appendix 4E: 1. Financial Report Signed here:. Date: 22 August 2012 William Mobbs Executive Chairman 2

3 (ABN: ) FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE

4 CORPORATE INFORMATION ABN: DIRECTORS Mr. William Mobbs Mr. Sanjay Sehgal Mr. Julian Gosse (Executive Chairman) (Chairman, Audit & Risk Management Committee) CHIEF EXECUTIVE OFFICER Mr. William Mobbs COMPANY SECRETARY Mr. Trevor Doolan REGISTERED OFFICE and PRINCIPAL PLACE OF BUSINESS Unit 1, 63 Wells Road Chelsea Heights, VIC 3196 Tel: (03) SHARE REGISTER Boardroom Pty Ltd Level Kent Street Sydney, NSW 2000 Tel: Fax: AUDITORS Ernst & Young INTERNET ADDRESS 4

5 CONTENTS PAGE Review and Results of Operations 6 Consolidated Statement of Comprehensive Income 8 Consolidated Statement of Financial Position 9 Consolidated Statement of Changes in Equity 10 Consolidated Statement of Cash Flows 11 Condensed Notes to the Consolidated Financial Statements 12 5

6 REVIEW AND RESULTS OF OPERATIONS Profit after Tax for the ITL Limited consolidated Group for the year ended 30 June 2012 was $1.3m, which was a 41% improvement on the prior year profit of $0.9m. Group revenue was $30.6m (2011: $40.7m). This reduction reflected lower revenue from Healthcare SEA due to the downturn in the Malaysian market combined with the strategic shift to commission based selling, and subsequent sale of this business effective 1 January This business is reported as a Discontinued Operation in the Group results. Profit after Tax from the Continuing Operations of Healthcare Australia and Innovative Products Group was $2.8m which was more than double the prior year profit of $1.3m. Income tax expense was only $0.2m (2011:$0.2m) due to the benefit of previously unrecognised prior year tax losses in Australia. Profit before tax from Continuing Operations at $3.0m was double the prior year result of $1.5m. Revenue from Continuing Operations was $28.3m (2011:$28.0m). Innovative Products Group revenue increased 13% (18% in U.S. dollars) to $10.4m due to continued business growth. Healthcare Australia revenue declined 5% to $17.9m due to the competitive market place but still managed to significantly increase its profit. Earnings Before Interest, Tax, Depreciation & Amortisation (EBITDA) from Continuing Operations for the year ended 30 June 2012 was $4.0m (2011: $2.9m), an improvement of 40 %. The Directors believe that EBITDA as a non IFRS profit measure is useful to investors as it provides further information on the company s underlying profitability The reconciliation between Profit before tax and EBITDA is as follows: $ Profit before Income Tax from Continuing Operations Add back/(deduct): Depreciation and amortisation expense Interest Expense Interest Income 2,983 1, (42) 1,485 1, (12) EBITDA from Continuing Operations 4,042 2,881 The loss from Discontinued Operation was $1.4m (2011: loss $0.3m). This loss comprised three elements: - Operating loss of $0.4m for the six months prior to the date of sale of the business; - Loss on disposal of the business $0.3m; and, - Reclassification of prior year foreign currency translation losses $0.7m from equity Earnings per share from Continuing Operations for the year ended 30 June 2012 was 2.19 cents (2011: 0.95 cents) 6

7 REVIEW AND RESULTS OF OPERATIONS (Continued) Group Operating Cashflow for the year ended 30 June 2012 was $4.7m (2011: $3.3m).This reflected the significantly improved earnings result together with reductions in working capital. The sale of Healthcare SEA, together with the strong operating cash generation, resulted in a favourable Group turnaround of $3.6m from a net debt position of $2.6m at 30 June 2011 to a net cash position of $1.0m at 30 June In addition $4.1m (2011: nil) was used for an on Market share buyback. This was an effective means of returning surplus capital to shareholders and enabled the Group to maintain an efficient capital structure. The company has not declared a dividend for the year ended 30 June

8 Consolidated Statement of Comprehensive Income for the year ended 30 June Note 30/06/ /06/2011 $000 s $000 s Continuing Operations Revenue 2 28,283 27,966 Cost of Sales (16,427) (17,270) Gross Profit 11,856 10,696 Other income Salaries and employee benefits expense (6,533) (6,099) Depreciation and amortisation expense 3 (334) (388) Finance costs (77) (293) Premises and office expenses (882) (995) Other expenses from ordinary activities (1,432) (1,696) Restructuring expenses - (436) Total Expenses (9,258) (9,907) Profit/(Loss) before income tax expense from continuing operations 2,983 1,485 Income tax benefit/(expense) (232) (233) Profit/(Loss) for the year from continuing operations 2,751 1,252 Discontinued Operations Total Income 2,350 13,044 Total Expenses (2,799) (13,354) Profit/(Loss) before Tax from discontinued operations (449) (310) Income Tax benefit/(expense) - (2) Profit/(Loss) after Tax from discontinued operations 4 (449) (312) Loss after tax from sale of discontinued operation 4 (299) - Reclass of prior years foreign currency translation losses from equity 4 (680) - Profit/(Loss) for the year from discontinued operation 4 (1,428) (312) Profit/(Loss) for the Year 1, Other Comprehensive Income Exchange differences on translating foreign operations 668 (1,049) Fair Value Revaluation of Land & Buildings (355) 563 Income tax on items of other comprehensive income - - Other comprehensive income for the period, net of tax 313 (486) TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 1, Profit/(Loss) attributable to members of the parent 1, Total comprehensive income attributable to members of the parent 1, Earnings per Share Basic profit/( loss) per share (cents per share) 1.06 cents 0.71 cents Diluted profit/(loss) per share (cents per share) 1.06 cents 0.71 cents Earnings per share for continuing operations Basic profit/( loss) per share (cents per share) Diluted profit/(loss) per share (cents per share) 2.19 cents 2.19 cents 0.95 cents 0.95 cents The accompanying notes form part of these financial statements 8

9 Consolidated Statement of Financial Position as at 30 June Note 30/06/ /06/2011 $000 s $000 s ASSETS CURRENT ASSETS Cash and cash equivalents 6 1,007 2,457 Trade and other receivables 3,560 6,387 Inventories 4,099 6,584 Current tax assets Other current assets TOTAL CURRENT ASSETS 9,113 16,162 NON-CURRENT ASSETS Property, plant and equipment 4,185 6,144 Product tooling and equipment 999 1,232 Intangible assets 875 1,191 Deferred tax assets 1,322 1,462 TOTAL NON-CURRENT ASSETS 7,381 10,029 TOTAL ASSETS 16,494 26,191 LIABILITIES CURRENT LIABILITIES Trade and other payables 2,673 5,092 Borrowings ,596 Current tax liabilities 1 - Short-term provisions TOTAL CURRENT LIABILITIES 3,333 10,276 NON-CURRENT LIABILITIES Borrowings Long-term provisions TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES 3,687 11,143 NET ASSETS 12,807 15,048 EQUITY Issued capital 7 35,080 38,957 Foreign currency translation reserve (1,504) (2,172) Options reserve - 26 Asset revaluation reserve (Accumulated loss)/retained earnings (21,217) (22,661) TOTAL EQUITY 12,807 15,048 The accompanying notes form part of these financial statements 9

10 Consolidated Statement of Changes in Equity for the year ended 30 June 2012 Issued Capital Foreign Currency Translation Reserve Options Reserve Asset Revaluation Reserve Retained Earnings $000 s $000 s $000 s $000 s $000 s $000 s Balance at 1 July ,957 (2,172) (22,661) 15,048 Total Profit for the period ,323 1,323 Other Comprehensive income (355) Total comprehensive income for the year (355) 1,323 1,636 Transactions with owners in their capacity as owners: Employee share option reserve - - (26) Asset Revaluation Reserve (95) 95 - Share Buy-back (4,403) (4,403) Transaction Costs (18) (18) Share based payments Balance at 30 June ,080 (1,504) (21,217) 12,807 Balance at 1 July ,957 (1,123) (23,601) 14,610 Profit for the period Other Comprehensive income - (1,049) (486) Total comprehensive income for the year - (1,049) Transactions with owners in their capacity as owners: Employee share option reserve - - (16) - - (16) Balance at 30 June ,957 (2,172) (22,661) 15,048 The accompanying notes form part of these financial statements 10

11 Consolidated Statement of Cash Flows for the year ended 30 June CASH FLOWS FROM OPERATING ACTIVITIES 30/06/ /06/2011 Note $000 s $000 s Receipts from customers 33,737 44,182 Payments to suppliers and employees (28,764) (40,277) Interest received Borrowing costs (184) (588) Income tax paid (111) (63) Net cash flow from / (used in) operating activities 4,707 3,296 CASH FLOWS FROM INVESTING ACTIVITIES Payment for product tooling and development (54) (20) Payment for property, plant and equipment (101) (195) Payment for intangible assets (72) (25) Proceeds from the sale of property, plant and equipment Proceeds from disposal of subsidiaries, net of cash disposed 4 (e) (1) - Net cash flow from / (used in) investing activities (227) 187 CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from borrowings - 1,998 Payment for dividends - - Payment for Share buyback (4,090) - Repayments of borrowings (1,842) (6,022) Net cash flow from / (used in) financing activities (5,932) (4,024) NET INCREASE/(DECREASE) IN CASH HELD (1,452) (541) Net foreign exchange differences 2 (109) Cash at beginning of period 6 2,457 3,107 CASH AT END OF PERIOD 6 1,007 2,457 The accompanying notes form part of these financial statements 11

12 CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE BASIS OF PREPARATION This general purpose condensed financial report for the year ended 30 June 2012 has been prepared in accordance with Australian Accounting Standards and the Corporations Act The financial information in this report for the year ended 30 June 2012 was authorised for issue in accordance with a resolution of the Directors on 22 August ITL Limited is a limited company incorporated and domiciled in Australia whose shares are publicly traded. The principal activities of the company and its subsidiaries (the Group) are described in Note 11. The financial information in this report does not include all notes of the type normally included within the annual financial report and therefore cannot be expected to provide as full an understanding of the financial performance, financial position and financing and investing activities of the consolidated entity as the full financial report. It is recommended that this report should be read in conjunction with the Annual Report for the year ended 30 June 2012, when it becomes available, and be considered together with any public announcements made by ITL Limited and its controlled entities during the year ended 30 June 2012 in accordance with the continuous disclosure obligations arising under the Corporations Act The accounting policies and methods of computation are the same as those adopted in the most recent annual financial report apart from any that may be noted below. Foreign Currency Translation The following foreign exchange rates have been used in the preparation of the consolidated financial accounts: 30-Jun Jun-11 Spot rate AUD/MYR AUD/USD Average rate for year ended 30 June AUD/MYR AUD/USD There have been no material adjustments to the accounting policies of the Group since 30 June The Group has not elected to early adopt any new standards or amendments. 12

13 2. REVENUE and OTHER INCOME 30-Jun Jun-11 Note $ 000s $ 000s Revenue Innovative Products Group (IPG) 10,352 9,144 Healthcare Australia (HCA) 17,931 18,822 Sales Revenue from Continuing Operations 28,283 27,966 Sales Revenue from Discontinued Operation 4 (b) 2,329 12,747 Total Sales Revenue 30,612 40,713 Other Income (Loss)/Gain on foreign currency transactions (27) 40 Other revenue Interest revenue Other Income from Continuing Operations Other Income from Discontinued Operations 4 (b) Total Other Income Total Income 31,018 41, EXPENSES CONTINUING OPERATIONS Depreciation & Amortisation expense Depreciation of non-current assets Land & buildings Furniture & Fittings Leasehold Improvements Office & Computer equipment Product Tools & equipment Total Depreciation Amortisation of non-current assets Computer Software Product Design/development Patents, trademarks & licencing Total Amortisation Total depreciation and amortisation expense 1,024 1,115 Less depreciation and amortization disclosed in cost of sales (690) (727) Total depreciation and amortisation expense

14 4. DISCONTINUED OPERATIONS (a) Description ITL Limited sold 100% of its shares in ITL SEA Sdn Bhd and its wholly owned subsidiaries ITL Healthcare SEA Sdn Bhd and Heal Mediware Sdn Bhd. ITL Limited lost its power to govern the financial and operating policies of the group under an agreement on 1 January 2012 and hence has deconsolidated the entity on 1 January Accordingly, this division which had been reported as a separate segment by itself is reported in this financial report as a discontinued operation. The financial impact of this discontinued operation is set out below. (b) Financial performance The results of ITL SEA Sdn Bhd and its subsidiaries for the period are presented below: Note 30-Jun-12 $ 000s 30-Jun-11 $ 000s Revenue 2 2,329 12,747 Cost of Sales 1,237 9,331 Gross Profit 1,092 3,416 Other Income Expenses (1,424) (3,728) Finance Costs (138) (295) Profit/(Loss) before tax from (449) (310) discontinued operation Income Tax expense - (2) Profit/(Loss) after tax from (449) (312) discontinued operation Loss on Sale of the discontinued 4 (e) (299) - operation Reclassification of prior year foreign 4 (e) (680) - currency translation losses from equity* Profit/(Loss) after tax of discontinued operation (1,428) (312) * Paragraph 48 of AASB121 The Effects of Changes in Foreign Exchange Rates requires that on the disposal of a foreign operation the cumulative amount of the exchange differences relating to that foreign operation shall be reclassified from equity to profit or loss as a reclassification adjustment when the gain or loss on disposal is recognised. The total cumulative amount of the exchange differences that is included in the losses on disposal amounted to $680,

15 4. DISCONTINUED OPERATIONS (continued) (c) Carrying amounts of external assets and liabilities The major classes of assets and liabilities at the date of disposal are: 1-Jan-12 Note $ 000s Assets Cash and cash equivalents 1,129 Trade and other receivables 1,626 Inventories 1,094 Property, plant and equipment 4 (g) 1,160 Other assets 470 Total Assets 5,479 Liabilities Trade and other payables 877 Borrowings 3,164 Other liabilities 29 Total Liabilities 4,070 Net Assets 1,409 (d) Cash Flow Analysis The net cash inflows/(outflows) incurred are as follows: Operating activities (669) Investing activities - Financing activities (151) Net cash inflow/(outflow) (820) (e) Total Consideration Received Details of the sale of the division In the event that the discontinued operation achieves certain performance criteria during the period 1 January 2012 to 31 December 2012 as specified in an earn out clause in the sale agreement additional consideration will be receivable. At the time of the sale and at year end the fair value of the consideration was determined to be zero. 30-Jun-12 Note $ 000s Cash consideration received 1,128 Less Net assets disposed 4 (c) (1,409) (281) Incremental costs of disposal (18) Loss on sale of discontinued operation 4 (b) (299) Reclassification of prior year foreign currency translation losses from equity 4 (b) (680) Loss on disposal after tax (979) 15

16 4. DISCONTINUED OPERATIONS (continued) (e) Total Consideration Received (continued) Net cash inflow/(outflow) on disposal: 30-Jun-12 Note $ 000s Cash consideration received 1,128 less cash and cash equivalents disposed of: 4 (c) (1,129) Reflected in the consolidated statement of cash flows (1) (f) Earnings per share 1-Jan Jun-11 Basic profit/( loss) per share (cents per share) (1.14) (0.24) Diluted profit/(loss) per share (cents per share) (1.14) (0.24) (g) Impairment of property, plant and equipment ITL Healthcare (SEA) Sdn Bhd s land and buildings in Kuala Lumpur, Malaysia, were revalued at 1 January 2012 by PTL Realty. The revaluation decrement of $355 thousand was debited to the Asset Revaluation Reserve. 5. DIVIDENDS PAID AND PROPOSED 30-Jun-12 $ 000s 30-Jun-11 $ 000s Dividends paid during the year Dividend paid for the year ended 30 June 2012: Nil cents (2011: Nil cents per share) CASH AND CASH EQUIVALENTS 30-Jun-12 $ 000s 30-Jun-11 $ 000s Cash on hand 2 3 Cash at bank 1, Sinking Fund Deposits Malaysia - 1,500 Total Cash and Cash Equivalents 1,007 2,457 16

17 7. ISSUED CAPITAL 30-Jun-12 $000 s 30-Jun-11 $000 s Ordinary shares At beginning of reporting period 38,957 38,957 Share Buy back (i) (4,403) - Transaction costs net of tax (ii) (18) - Shares issued during the period (share based payments) (iii) 35,080 38,957 No. No. At beginning of reporting period 131,645, ,645,386 Share Buy back (i) (27,609,048) - Shares issued during the period (share based payments) (iii) 3,294, ,330, ,645,386 Ordinary shares participate in dividends and the proceeds on winding up of the parent entity in proportion to the number of shares held. At shareholders meetings each ordinary share is entitled to one vote when a poll is called, otherwise each shareholder has one vote on show of hands. (i) ITL Limited bought back a total of 27,609,048 shares between 23 December 2011 and 30 June The shares were acquired at an average price of $ each, with prices varying from $0.11 to $0.20. The total cost of shares bought back was $4,402,913. As at 30 June 2012 there were 2,705,697 shares bought back for $511,993 that had not been cancelled. These were shares bought back since the date of last cancellation on 19 June These shares were cancelled on 16/07/2012. (ii) (iii) The transaction costs represented brokerage costs associated with the share buyback. Under the Executive Share Plan 3,294,509 shares were issued to key management personnel on 6 June 2012 at an issue price of $ and reflected in the accounts at fair value which is the market price of ITL shares of $0.165 on 6 June

18 8. BORROWINGS 30-Jun Jun-11 $ 000s $ 000s Current Bank overdrafts - 4 Bankers Acceptances - 3,564 Bank loans Hire purchase liability ,596 Non-current Bank loans Hire purchase liability , CONTINGENT LIABILITIES AND CONTINGENT ASSETS ITL Limited has provided the following guarantees as at 30 June 2012: (a) Guarantee to United Overseas Bank (Malaysia) Bhd to support the bank facilities provided to ITL Healthcare SEA Sdn Bhd up to a maximum amount of RM17,554,000 (A$5,412,722 equivalent at 30 June 2012 exchange rate). A release from this guarantee was obtained on 9 July (b) Guarantee to RHB Bank Bhd to support the overdraft facility of RM750,000 (A$231,260) provided to ITL Healthcare SEA Sdn Bhd. In relation to (a) and (b), ITL SEA Sdn Bhd and its subsidiaries ITL Healthcare SEA Sdn Bhd and Heal Mediware Sdn Bhd were sold effective 1 January The purchaser and these companies have provided a Deed of Indemnity in respect of any payment, liability or obligation that ITL Limited may incur pursuant to these guarantees. In addition, as part of this sale, ITL Limited has provided warranties relating to the taxation affairs of these companies. The maximum liability under these warranties is capped at RM500,000 (A$154,173) and any claim must be served on ITL Limited by no later than 4 April EVENTS AFTER BALANCE DATE On 9 July 2012 United Overseas Bank (Malaysia) Bhd advised that ITL Limited had been discharged from its corporate guarantee securing credit facilities of up to RM17,554,000 granted to ITL Healthcare SEA Sdn Bhd. At the close of 21 August ,107,092 ordinary shares have been bought back since 30 June 2012 at a cost of $1,201,494. These shares were acquired at an average price of $0.1967, with prices ranging from $0.19 to $

19 11. SEGMENT REPORTING The Group s reportable segments are as follows: Continuing Operations: Innovative Products Group ( IPG ) ITL s Innovative Products Group (IPG) designs, manufactures, markets and distributes a range of biological safety sampling devices for the human and animal global healthcare markets. IPG capabilities and expertise include development and commercialization of new patented products from initial concept through to sales. The group is located across three continents to leverage the unique geographical advantages of each area: Management and new product development is based in Australia; Manufacturing and tool making is based in Malaysia. Our manufacturing facility is TUV accredited, Quality Management System is ISO 13485: 2003 certified and, the Environmental Management System is ISO 14001: 2004 certified. Products include FDA 510K and/or CE mark as necessary. Sales and marketing is based in North America where our largest customers and markets are located. IPG distributes predominantly its own proprietary range of products and has an extensive Intellectual Property portfolio including a healthy pipeline of new patents, trademarks and designs. IPG s customer base includes some of the largest multinational healthcare suppliers in the world. IPG is focused on providing year on year profit growth and leveraging its extensive and proven product commercialization resources to expand its product range and penetration in the global market. Healthcare Australia ( HCA ) There are three core product areas where Healthcare Australia ( HCA ) is actively engaged in the Australian healthcare market. These are Customised Procedure Packs, Catheter Laboratory kits and Invasive Pressure Monitoring kits which are provided to public and private hospitals throughout Australia. HCA continues to provide a high level of quality and customer service to ensure it is competitive in the market. HCA has created a unique point of difference through the investment in a state of the art ethylene oxide steriliser and class 3000 clean room assembly facilities. This investment in the ETO capabilities has given HCA the opportunity to purse OEM manufacture of kits and contract sterilisation services, both of which will be potential areas for strong growth. Corporate and other The corporate business segment consists of the Board of Directors and head office costs. 19

20 11. SEGMENT REPORTING (continued) Discontinued Operations: Healthcare South East Asia ( HCSEA ) Headquartered in Kuala Lumpur, Malaysia ITL Healthcare South East Asia markets and distributes medical equipment, surgical instruments and consumables to over 160 hospitals and medical centres throughout Malaysia. ITL Limited sold 100% of its shares in ITL SEA Sdn Bhd and its wholly owned subsidiaries ITL Healthcare SEA Sdn Bhd and Heal Mediware Sdn Bhd. ITL Limited lost its power to govern the financial and operating policies of the group under an agreement on 1 January 2012 and hence has deconsolidated the entity on 1 January Transfer prices between business segments are set on an arms length basis in a manner similar to transactions with third parties. Segment revenue, expense and results include transfers between business segments. Those transfers are eliminated on consolidation. The following table presents the revenue and profit information regarding business unit segments for the years ended 30 June 2012 and 30 June

21 11. SEGMENT REPORTING (continued) Year ended 30 June 2012 Revenue External Customers Inter Segment Innovative Products Group Healthcare Australia Corporate & Other Adjustments and Eliminations Total Continuing Operations $ 000 $ 000 $ 000 $ 000 $ ,352 17, , (385) - 10,737 17,931 - (385) 28,283 Gain/(Loss) on foreign currency transactions 1 (27) (1) - (27) Other Revenue Interest Revenue Total segment revenue 10,792 17, (385) 28,668 Result Segment results * 2,618 1,023 (639) 16 3,018 Restructuring expense Earnings Before Interest and Tax * 2,618 1,023 (639) 16 3,018 Interest revenue Interest expense (12) (41) (24) - (77) Income tax expense (655) (302) (232) Total segment results from continuing operations* 1, ,751 *Includes corporate recharges to each segment 21

22 11. SEGMENT REPORTING (continued) Year ended 30 June 2011 Revenue External Customers Inter Segment Innovative Products Group Healthcare Australia Healthcare South East Asia (Disc. Ops.) Corporate & Other Adjustments and Eliminations Total Continuing Operations $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 9,144 18,822 12,747 - (12,747) 27, (500) - 9,644 18,822 12,747 - (13,247) 27,966 Gain/(Loss) on foreign currency transactions 8 32 (10) Other Revenue (105) 644 Interest Revenue (30) (125) 696 Total segment revenue 9,677 18,902 12, (13,372) 28,662 Result Segment results * ^ 1, (113) 2,202 Restructuring expense (69) (117) (291) (250) 291 (436) Earnings Before Interest and Tax* 1, (218) (232) 178 1,766 Interest revenue (30) 12 Interest expense (85) (174) (295) (34) 295 (293) Income tax expense (71) (157) (2) (5) 2 (233) Currency Translation (173) - Total segment results * 1, (312) (271) 272 1,252 *Includes corporate recharges to each segment ^ Adjusted from numbers shown in 2011 Annual report to exclude interest income Certain comparatives have been re-presented to conform with current year s presentation as a result of the disposal of ITL SEA Sdn Bhd and its subsidiaries. 22