Pacific Smiles Group Limited (ASX: PSQ) Provides Trading Update and CFO Announcement
Trading Performance and Guidance
Pacific Smiles Group Limited (ASX: PSQ) has reported a robust trading performance for the financial year as of 22 January 2025. Patient fees have reached $178 million, marking a 9.2% increase year-on-year. On a like-for-like trading days basis, patient fees have grown by 8.4%.
The ongoing growth is attributed to increased appointment volumes and pricing. Notably, growth continues in newer centres opened between FY2020 and FY2023, demonstrating both fee and profitability uplifts. The company reaffirms its previous guidance for FY25, anticipating patient fees between $310 million and $318 million, reflecting a 6.2% to 9.0% rise compared to FY24. Underlying EBITDA is projected at $31.2 million to $34.2 million, indicating an increase of 10.6% to 21.3% from the previous financial year.
Chief Financial Officer Transition
The company announced a key leadership transition following the resignation of Chief Financial Officer Matthew Cordingley. His last official day will be 24 January 2025. The board expressed gratitude for Cordingley’s substantial contributions and wished him well in his future endeavours. Martin White will step in as Acting Chief Financial Officer starting Monday, 27 January 2025.
Genesis Bidco Update
As of 23 January 2025, Genesis Capital, through Beam Dental Bidco Pty Ltd, has increased its voting power in Pacific Smiles to 89.18%. Under Genesis Capital’s management, Pacific Smiles aims to focus on organic growth while exploring potential merger and acquisition opportunities as they arise.
This announcement has been authorised by the Board of Pacific Smiles.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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