2013 Annual Report

AustraliaMarket value estimated at A$560 million
50/50 joint venture33 stores plus non-retail testing locations
Start Up    159 staff including 33 clinicians

Highlights and Key Events

  • Achieved year on year double digit sales growth, with record sales months in April and May 2013
  • Over 59,000 touch screen tests performed over the last year
  • Launched a new partnership with Health Strong, an aged care facility, and strengthened the partnership with Terry White Chemists
  • Appointment of national operations manager to support the operational leadership team
  • Successful transition of IT platform to the new cloud-based network

The major opportunity for our business lies in converting customers from testing to solutions. We have introduced a number of tools to encourage uptake, including increased financial offers and special promotional deals.

The instability of the Australian economic and political environment has impacted consumer confidence and, overall, the hearing industry in Australia has remained stagnant in the past year. Pleasingly, against this backdrop, we have experienced double digit sales growth.

Our revenue is mainly derived from payments through private insurance providers and from the Government Hearing Services organisation, often with top ups to the subsidies from private individuals.

Focus for FY14

  • Continued growth in the private market, by delivering great customer service
  • Ongoing investment in our people
  • Focus on increased business productivity
  • Progressing towards break even at EBITDA