RE: People can't read16 Feb 2026 08:42
CEO's Business Strategy Update on behalf of the Board
The Directors are delighted to report record total income for the first half of this year and believe the Company is on track to meet market total income expectations. If these targets are achieved, it would represent a record year, with total income increasing by approximately 27% compared to the financial year ending on 30 June 2025.
Operating losses during the first half exceeded the market forecast for operating losses, mainly due to a temporary reliance on external consultants while new internal staff were onboarded and the balance of contract wins and full-time employees to carry out the work is optimised. Although using a flexible staffing model has its advantages, the Board believes that it can service its currently anticipated pipeline of business for the second half and beyond with a much lower reliance on expensive external consultants, resulting in higher profitability.
The second half of the year has commenced positively, with a substantial proportion of the revenue required to satisfy market expectations already contracted or projected to be won based on the Company's current pipeline. While project timelines, and consequently corresponding revenue recognised, may be affected by client requirements, the Board remains confident that its robust business development pipeline will yield further contracts, generating additional revenue over the next six months and into the future.
The Company continues to make progress across all its key growth initiatives, continuing to diversify its services, enhancing its internal quality management system and processes, whilst making positive steps forward with its Personalised Dosing Software.
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