Global Health 1H loss widens to $511k

Global Health, (ASX:GLH), a e-health solution provider, said its loss widened to $511k in the first half as a result of the strong Australian dollar

Australian e-health solution provider Global Health (ASX:GLH) has reported a net loss of $511,500 for FY11, as a result of foreign exchange losses.

Revenue grew 1.5 per cent to $2.6 million, with core healthcare license and services revenue increasing 15 per cent to $2.46 million. Ebitda losses meanwhile decreased to $229,000 from $288,000 in 1H09.

But the company's net loss increased from $481,000 over the same period, as a result of forex losses totalling $261,500 accrued from revaluation of loans held by its overseas subsidiaries.

Despite the decline, the company said it was confident it can achieve a positive full-year ebitda by the end of FY11.

Global Health is involved in a number of government e-health tenders, and the international healthcare industry is coming to realise the need to embrace e-health solutions, the company said as an explanation.

Operating expenses stayed constant at $2.8 million, despite the accrual of $250,000 in one-off expenses related largely to the closure of its Perth Office.

GLH shares stayed flat on Monday at $0.030.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags net lossGlobal Health

Show Comments