Austco Healthcare expects improved profit for FY21
Austco Healthcare, the small-cap provider of healthcare communication and clinical workflow management solutions, released updated guidance on Friday. The $27 million company advised that it expects its FY21 Net Profit After Tax to show an improvement in underlying profitability.
With subsidiaries in six countries supporting healthcare facilities through its global reseller network, Austco expects stronger second-half revenue from customers of between $16.2-$17.7 million which reflects growth of between 17% and 27% over the first half. Further, its Confirmed Orders Book continues to grow and currently sits at $17.1 million which is the largest in Austco Healthcare’s recent history.
Austco has also continued to access government stimulus packages, primarily from the USA in the current year. For FY21 the company expects to book $1.4 million in Grant Income from these government stimulus packages, which is the same level as in FY20.
As a result, Austco expects NPAT for FY21 to be between $2.8-$3.3 million, compared to $2.5 million in FY20.
The current impact of COVID-19
Whilst some of Austco’s markets are back to pre COVID-19 levels, other markets continue to deal with access restrictions. Recent restrictions in Singapore and Melbourne have proved it difficult to forecast results. Supply chain challenges also continue to persist and have impacted the company’s results. Once all of these restrictions are lifted Austco is confident that its Confirmed Order Book will drive revenue growth in future periods. The expected NPAT is subject to no new COVID-19 restrictions impacting the remainder of the financial year.