Careteq Ltd. Reports Strong Financial Performance Amid Strategic Growth
In a remarkable turnaround, Careteq Ltd., a Melbourne-based health-tech company specializing in assisted-living technology products, has released its unaudited preliminary full-year results for FY25. The company, listed on the ASX All Markets, has demonstrated significant financial growth, with revenue up 5.4% and Group EBITDA from continuing operations soaring by 171% compared to the prior corresponding period.
Strategic Decisions Pay Off
Careteq’s strategic decisions at the beginning of FY25 have evidently paid off, resulting in a full-year group EBITDA profit from continuing operations of $0.3 million, a stark contrast to the $1.4 million loss in the previous year. This impressive turnaround highlights the company’s effective management and strategic initiatives aimed at enhancing its market position and financial health.
Corporate Governance Compliance
In addition to its financial achievements, Careteq has also focused on strengthening its corporate governance framework. The company’s 2025 Corporate Governance Statement outlines its compliance with the ASX Corporate Governance Principles and Recommendations. While these principles are not mandatory, Careteq’s commitment to transparency and governance is evident in its detailed disclosure of adherence to these guidelines, as approved by its board.
Challenges Remain
Despite the positive financial results, Careteq faces ongoing challenges. The company’s revenues from ordinary activities have seen a 7.1% decrease to $7,728,787, and it reported a loss from ordinary activities after tax attributable to the owners. These figures underscore the competitive and dynamic nature of the health-tech sector, where companies must continuously innovate and adapt to maintain growth.
Looking Ahead
As Careteq continues to serve global customers with its innovative medication management and clinical governance solutions, the company remains focused on leveraging its strategic initiatives to drive further growth. With a market cap of 2,370,000 AUD and a current close price of 0.01 AUD, Careteq is poised to capitalize on its recent successes while navigating the challenges ahead.
For more information on Careteq’s offerings and initiatives, stakeholders are encouraged to visit their website at www.careteq.com.au or follow their trading updates on the ASX All Markets.