Pearl achieves budgeted profit

Publicly listed dental laboratory conglomerate, Pearl Healthcare Limited, has met its budgeted net profit after tax (NPAT) for the period 1 November to 31 December 2002 of $390,000, according to the Half Yearly Report the company lodged with the Australian Stock Exchange (ASX) on 13 March.

The report stated that the key achievement over the past six months was the successful capital raising of $16 million used in large part to acquire and integrate 22 existing dental laboratory businesses under the Pearl banner.

The company's share price, which listed at 25 cents per share but was trading around the 11 cent mark, rallied 14% on news of the announcement.

A number of strategies to increase sales for the group are now being explored following the transition of the inital labs into the national organisation.

The appointment of a business support manager, based in Sydney, in early February is expected to create a more coordinated approach to business development opportunities.

The Pearl network of laboratories will also commence marketing a "promising" new dental lab product dealing with the problem of bruxism. According to the company, this product is currently provided in only three of Pearl's labs and their experience is that there is a high take up by dentists once the patient benefits of this product is presented. An extensive seminar program covering the product commences in early April.

Similarly, a wide range of well received orthodontic products distributed by one lab will be made available through the entire network.

Pearl expects that by delivering new and innovative products to the market in this manner, that sales of core products will likewise increase.

Further acquisitions of established laboratories is also underway.