Ellex sells property for $4.43m
Friday, 20 January, 2006
Adelaide company Ellex Medical Lasers (ASX:ELX) has signed a contract for the sale of its building in Adelaide for a price of $4.43 million.
Ellex will use the proceeds to repay debt, which at 30 June 2005 totalled $5 million, including a $2 million loan on the property. The company expects to report a post-tax profit of approximately $1.5 million on the sale of the building in the second half of the current financial year ending 30 June 2006.
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