Pacific Smiles Group Limited (ASX:PSQ) Reports 10% Revenue Growth and 52% Underlying Profit Increase for H1
Financial Performance
Pacific Smiles Group Limited reported a 10% increase in revenue, reaching $98.967 million for the half-year ended 31 December 2024. The underlying profit after tax rose by 52% to $6.713 million. However, the statutory net loss after tax was $1.991 million, compared to a profit of $4.407 million in the previous period. The report states that the statutory results for the year were driven by expenses associated with the change of control proposals and off-market take-over bid that temporarily materially increased expenses
Mergers & Acquisitions
During the period, the Group was subject to an off-market takeover bid, made by Beam Dental Bidco Pty Ltd (Bidco), an associate of Genesis Capital Manager I Pty Ltd (Genesis). The bid successfully acquired circa 89% of the issued shares in the Group, resulting in a substantial change in the Company’s shareholder base and a change of control.
Dividend Information
No interim dividend was declared for the half-year of FY25.
Operational Highlights
Patient fees increased by 9% year-on-year to $160.3 million. HBF Dental delivered 35,531 appointments, marking a 23% rise over the prior year.
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