AUSTRALIA'S IBA HEALTH SET TO ACHIEVE FULL-YR NET PROFIT FORECAST.

SYDNEY, Feb 1 Asia Pulse - Australian health industry computer software provider IBA Health Ltd (ASX:IBA) today said it was on track to achieve its full year net profit forecast after a strong first half.

The company today announced an unaudited after-tax profit of .4 million ($US3.41 million) for the six months to December 31, 2004, compared to a loss of $A1.2 million ($US929,280) for the previous corresponding period.

"The result reflects strong growth in IBA's recurring revenue and confirms we are on track to achieve our forecast for the full year," chairman Gary Cohen said.

IBA announced in December that it expected to achieve a profit of $A12 million ($US9.29 million) before tax and goodwill amortisation for the year to June 30, 2005.

"As the leading Australian provider of IT systems and services to the healthcare sector, IBA is uniquely positioned to benefit from the increasing focus on improving the safety and quality of medical services," Mr Cohen said.

"Furthermore we are well placed to compete for the significant government health IT contracts for which we have submitted tenders or expect to be invited to tender."

The company has accepted Primary Health Care Ltd's offer for IBA's 19.9 per cent shareholding in Health Communication Network Ltd.