Promisia Healthcare (PHL) H2 2024 earnings summary

Executive summary

• Achieved 10% year-over-year increase in operating revenue to $26.3m, with net profit after tax rising 136% to $1.6m compared to FY23.

• Strengthened leadership with new Chair, directors, and management, driving improved performance and strategic reset.

• Completed Ranfurly Manor development, sold all new villas, and maintained high occupancy rates across facilities.

• Extended banking facilities on improved terms, repaid second-tier lending, and reduced interest costs.

Financial highlights

• Operating revenue: $26.3m (up 10% year-over-year).

• Underlying EBITDAF: $3.8m (down 8% year-over-year due to one-off transition costs).

• Net profit after tax: $1.6m (up from $0.7m in FY23).

• Total assets: $84.3m (up 18% year-over-year).

• Net tangible assets per share: 0.126 cents (up 37% year-over-year).

• Debt reduced by 6% to $29.2m; cash and undrawn facilities at $0.5m.

Outlook and guidance

• Expecting double-digit growth in operating earnings for FY25 as strategic initiatives deliver results.

• Positioned for growth with a robust platform, strong leadership, and a pipeline of development and acquisition opportunities.