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Strong performance in pharmaceuticals continue to drive profitability for Pasture Holdings
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Revenue growth: 1H2025 revenue increased by 25.2% y-o-y to US$7.2 million mainly due to higher orders and shipments for pharmaceuticals to Canada and Hong Kong.
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Profit expansion: Consequently, gross profit increased by 60.5% y-o-y and gross margin expanded by 6.2 ppts y-o-y to 28% for 1H2025 due to higher operational efficiencies.
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Positive market outlook: Southeast Asia&rsquo s pharmaceutical market remains promising, driven by ageing population, nearshoring, and increased manufacturing activity in the region.
Singapore, 6 February 2025 - Pasture Holdings Ltd
https://links.sgx.com/1.0.0/corporate-announcements/6CUHRNFE4SL48ZVK/64a1e07bc020abddc989ae4cf30c9a0cbcc8a092195662170b0bd2e9e1c945b3
&bull
Revenue growth: 1H2025 revenue increased by 25.2% y-o-y to US$7.2 million mainly due to higher orders and shipments for pharmaceuticals to Canada and Hong Kong.
&bull
Profit expansion: Consequently, gross profit increased by 60.5% y-o-y and gross margin expanded by 6.2 ppts y-o-y to 28% for 1H2025 due to higher operational efficiencies.
&bull
Positive market outlook: Southeast Asia&rsquo s pharmaceutical market remains promising, driven by ageing population, nearshoring, and increased manufacturing activity in the region.
Singapore, 6 February 2025 - Pasture Holdings Ltd
https://links.sgx.com/1.0.0/corporate-announcements/6CUHRNFE4SL48ZVK/64a1e07bc020abddc989ae4cf30c9a0cbcc8a092195662170b0bd2e9e1c945b3
One of those IPOs which is hard to understand. Why raise $3M of which a substantial amount, close to half goes to professional advisors. Cant they just get a bank loan?
aiyo, dun understand how the share can trade at current price seah ....
sengkang ( Date: 12-Jun-2023 10:34) Posted:
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Who are its competitors? Hyphen Pharma?
So can match the price of other medical counters that similar business?
sengkang ( Date: 12-Jun-2023 10:34) Posted:
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Nav = US 1.67c
eric998 ( Date: 12-Jun-2023 10:20) Posted:
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Check out its NAV.
IPO = It' s Probably Overpriced.
gravity8888 ( Date: 12-Jun-2023 09:49) Posted:
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Low liquidity. Very easy to pump up
Medical supplies company Pasture ends below IPO price on Catalist debut, to expand into pet health segment
MEDICAL supplies company Pasture : UUK NaN% on Friday (Jun 9) closed at S$0.245, falling 2 per cent or S$0.005 from its initial public offering (IPO) price of S$0.25, on its first day of trading on the Catalist board of the Singapore Exchange.
The counter opened at S$0.22, sliding 12 per cent from its IPO price. As at 9.15 am, the counter had traded at S$0.22, with 95,000 shares having changed hands. It later recorded a high of S$0.25.
The company had raised net proceeds of S$3.1 million from the sale of 20 million placement shares.
The 20 million shares represent around 15.2 per cent of the company&rsquo s share capital of 132 million shares immediately after completion of the placement. There was no public tranche.
Notable investors include prominent industry figures from the medical field such as Draagonfly LLP, an entity held by the family of Cordlife Group Limited&rsquo s Vice Chairman, Dr. Ho Choon Hou, gynecologic oncologist, Dr. Tay Eng Hseon, and ophthalmologist, Dr. Chng Nai Wee of Eagle Eye Centre.
Based in Singapore, Pasture develops and sells masks, including surgical masks and N95 respirators, primarily to government agencies and hospitals. It also distributes medical supplies and devices, and specialises in temperature-sensitive products such as vaccines and oncology products.
The company reported earnings of US$2.9 million in FY2022, up 54 per cent year on year. Revenue rose 14.9 per cent on year to around US$15.1 million.
Based on the issue price, the company would have a market capitalisation of S$33 million and a price-to-earnings ratio of 8.91 times.
In an interview with The Business Times, chief executive Lloyd Soong said the company aims to use the funds raised to attract talent, develop its current business segments and also new lines of products and services.
About S$1.6 million of the net proceeds will be used for exploring opportunities in mergers and acquisitions, joint ventures and strategic alliances. This includes expanding into pet pharmaceuticals and health services, which the company delved into this year by launching pet health mobile application furlife in January.
As at Jun 30, 2022, the company had total assets of US$7.6 million and total liabilities of US$5.9 million, according to its audited financial statements. PHOTO: PASTURE
Soong said the current business of pharmaceuticals and mask and medical supplies would be revenue generating, and does not require as much funding.
Instead, the pet segment &ndash a new area to the company &ndash is where the company is channelling its funds.
He said the pet pharmaceuticals market had &ldquo huge potential&rdquo for Pasture, as the company already deals with human health. &ldquo Pets also have human-like illnesses, such as thyroid problems and diabetes, and the medicine they use simulates human medicine with a fraction of the dosage,&rdquo he noted.
Pasture intends to increase its offerings on the app, which has functions such as a digital pet health tracker and an online pet pharmaceuticals marketplace, through partnerships with pet services and other related providers.
As for its medical supplies segment, Pasture in October 2022 signed an agreement with US-based medical supplies company McKesson to sell private-label products and expand its offerings. The agreement is for an initial term of three years.
A wider range of offerings will mean new revenue streams for the company, said Soong. Pasture&rsquo s Q1 revenue for FY2023 fell 58.6 per cent to US$2.1 million from US$5.1 million year on year. Management attributed this to a decrease in mask sales in Thailand and Malaysia from lower demand and fewer orders in its wholesale and drop-shipment business segment.
He is optimistic that the recent news of institutions stockpiling healthcare supplies could signal an increase in revenue later in the year, and added that the company has moved forward with its IPO plans during the sector&rsquo s current &ldquo lull period&rdquo .