Camsing Healthcare (BAC) Q1 2024 TU earnings summary

Executive summary

• Q1FY2024 revenue rose 9% YoY to S$1.443m, while net loss widened to S$429k from S$399k, mainly on higher finance costs and administrative expenses.

• Net liabilities reached S$6.165m at 30 Apr 2023; material uncertainties were identified that may cast significant doubt on the ability to continue as a going concern.

Financial highlights

• Revenue was S$1.443m, up 9% YoY; gross profit rose 4% to S$787k, with cost of sales up 15% to S$656k.

• Other income increased to S$51k from S$36k; marketing and distribution costs fell 2% to S$898k, while administrative and other operating expenses rose 16% to S$230k.

• Finance costs increased 90% to S$139k; loss before tax and net loss were S$429k versus S$399k in Q1FY2023.

Outlook and guidance

• Strategy priorities include new products, additional sales channels, prudent cost management, stronger e-commerce and further B2B collaborations; New Investment proceeds are intended to support these initiatives.

• A proposal to resume share trading was due to be submitted; trading had been suspended since 1 Apr 2019.