Asia Vets FY2025 loss widens to S$6.5m on S$5.7m goodwill impairment; revenue slips 8% to S$2.32m and NAV per share falls to 6.43 cents
Summary:
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FY2025 revenue declined 8% to S$2.32 million as lower contribution from a relocated clinic and a veterinarian’s maternity leave offset stable demand across the Group’s Singapore veterinary services and products.
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Full-year net loss widened more than threefold to S$6.47 million (FY2024: S$1.98 million), driven primarily by a S$5.70 million goodwill impairment on AVH Animal Ark and higher expected credit loss allowances on loans to the subsidiary.
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Gross profit fell to S$0.60 million with margin compressing to 25.8% (FY2024: 27.5%) amid softer revenue, while operating cash flow swung to a small S$0.08 million inflow from a S$0.17 million outflow a year earlier.
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Net assets dropped to S$9.40 million from S$15.87 million, with Group NAV per share down to 6.43 Singapore cents from 10.86 cents, reflecting cumulative losses and impairments booked in FY2025.
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The Group ended the year debt free with S$7.86 million cash and continues to focus on turning around its veterinary business, including recently relocated clinics, under a simplified Singapore-only operating footprint.