life therapeutics upgrades profit forecasts

Life Therapeutics upgrades profit forecasts
08:42, Tuesday, 19 April 2005

Sydney - Tuesday - April 19: (RWE Australian Business News) -

Life Therapeutics Ltd (ASX code: LFE) has upgraded its forecasts for the
2006 and 2007 financial years, compared with advice provided last June.

Earnings before interest, tax, depreciation and amortisation
(EBITDA) is now expected to rise from $4.5 million to $10 million in the
2006 year on a rise in expected sales from $54 million to $74 million.

In 2007, the company now forecasts EBITDA of $16.5 million, up
from $12.6 million previously forecast, on sales of $89 million, an
increase from $69 million as previously forecast.

The upgraded forecasts reflect increased revenue/market share
over budget in the Life Sera business; realisation of the smallpox
bioterrorism contract; and cost savings from the sale of the Frenchs
Forest facility.

They have also been attributed to efficiency gains from
relocation of senior management to Atlanta; and synergies gained from
the company's proposed acquisition of a major US-based plasma company.

Shares in Life Therapeutics traded steady at 67.5c yesterday.

ENDS