Camsing Healthcare (BAC) Q1 2025 TU earnings summary

Executive summary

• Q1FY2025 revenue fell 26% YoY to S$1.070m as demand weakened across corporate, retail and online sales; net loss widened to S$669k from S$429k.

• Liquidity and solvency remain acute concerns: cash was S$72k, borrowings S$6.453m and net liabilities S$9.127m at 30 Apr 2024; continuation as a going concern depends on funding and other conditions.

Financial highlights

• Revenue was S$1.070m vs S$1.443m YoY; gross profit was S$670k vs S$787k, while cost of sales declined to S$400k from S$656k.

• Marketing and distribution costs rose 5% to S$940k; administrative and other operating expenses rose 31% to S$302k, including professional fees tied to the trading-resumption application.

• Finance costs increased to S$147k from S$139k, mainly due to higher interest on parent-company loans; loss before tax and net loss were both S$669k vs S$429k.

• Operating cash outflow was S$72k vs S$13k; financing generated S$31k, mainly from a parent-company loan, partly offset by lease and bank-loan repayments. Closing cash was S$72k.

Outlook and guidance

• Planned priorities include new products, additional sales channels, e-commerce collaborations and cost management; management expects the proposed investment to support business initiatives and improve performance after completion.

• Trading resumption and new-investment completion remain conditional; SGX RegCo approved the resumption proposal in principle, and shareholder approval for the new investment was obtained on 24 May 2024.