Camsing Healthcare (BAC) H2 2024 earnings summary

Executive summary

• FY2024 revenue was S$4.852m, down S$1.251m YoY; loss before tax widened to S$2.723m from S$2.402m.

• Cost controls reduced marketing and distribution expenses, while operating cash flow turned positive; net liabilities increased to S$8.458m.

• Trading resumption and release of S$4.850m in escrowed investor funds are central to financing and the going-concern outlook.

Financial highlights

• Revenue S$4.852m vs S$6.103m; gross profit S$2.982m vs S$3.510m; cost of sales fell to S$1.870m from S$2.593m.

• Loss before tax and net loss were both S$2.723m vs S$2.402m; loss attributable to owners was S$2.722m vs S$2.402m.

• Marketing and distribution expenses fell to S$3.639m from S$4.507m; administrative expenses rose to S$1.325m from S$1.019m; finance costs rose to S$607k from S$508k.

• Operating cash flow was S$331k vs cash used of S$577k; investing cash use was S$6k and financing cash use was S$649k.

• Cash and bank balances were S$113k at 31 Jan 2024, down from S$437k; total assets were S$2.531m vs S$4.206m.

Outlook and guidance

• Priorities include new product development, new sales channels and prudent cost management; online presence and e-commerce platforms will be expanded.

• B2B collaborations are to be extended through partnerships in complementary industries; management expects improvement after the New Investment and planned initiatives.

• Management expects funding from the proposed investment to support business initiatives; the going-concern basis depends in part on successful trading resumption and release of escrow funds.