IDT Australia Limited (ASX:IDT) Announces Half-Year Financial Results
Financial Performance
IDT Australia Limited reported an 83.0% increase in revenue, reaching $10.542 million for the half-year ended 31 December 2024. The loss from ordinary activities after tax attributable to owners decreased by 15.8% to $3.251 million.
Operational Achievements
The company’s revenue growth was driven by strong demand from returning customers and US-based entities attracted to Australia’s high regulatory standards and cost-effectiveness. The Advanced Therapies vertical saw a significant rise of 1,116%, generating $3.9 million, while the API Manufacturing and Specialty Orals verticals experienced declines of 63.6% and 7.1%, respectively.
Future Outlook
IDT Australia secured a $20 million asset-based loan facility from Scottish Pacific Business Finance Pty Ltd to support strategic initiatives and expansion plans. The company anticipates significant improvement in operating cash flows over the next six to twelve months.
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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