Strong Sales Growth in China in Improved Half Year Results

NZX/ASX Announcement

12 October 2023

Strong Sales Growth in China in Improved Half Year Results

Highlights

• Half year revenues up 33% on prior year to $986,051 (FY2023: $740,034)
• SUS unit sales up 28% on prior year to 95,040
• China continuing to be major contributor
• Zimbabwe tender underway, for 10,800 SUS in October 2023 to give strong start to Q3 FY2024

Truscreen Group Limited (NZX/ASX:TRU) is pleased to report a 33% growth in H1 FY24 product sales and a 28% growth in sales of Single Use Disposable Sensors (SUS) sales against the same period last year.

China continues to grow strongly as we see a return to pre COVID levels, supported by the recent TruScreen recognition in major national Guidelines, by the Chinese Society of Colposcopy and Cervical Pathology (CSCCP), published in the July edition of CSCCP's journal and the recommendation in the prestigious Blue Book in China.

Saudi Arabia has commenced commercial operations in Q2 FY24 and TruScreen is expecting a positive result from the national regulator in Mexico, Cofepris, in late FY24, which would enable TruScreen ® Ultra distribution in the public hospital system and inclusion in government screening programs. In Vietnam, 4 more major screening hospitals are pending approval of TruScreen with strong local authorities support.

Zimbabwe, under the National Aids Council program have now screened a total of 14,000 women in Masvingo province. The program continues with a further TruScreen SUS tender underway. A decision is expected in October 2023, which if positive will see the next order of 10,800 SUS from Zimbabwe give a strong start to Q3 2024 sales.

The CEO, Dr Beata Edling commented:
“We are pleased to see strong growth in our first half year results. TruScreen's recognition in the two top national guidelines in China is providing our distributor Siweixiangtai Tech Co. Ltd (SWXT) with the accreditation to rapidly expand the China business.

We are working to build on our China base and success in Zimbabwe to strengthen our position in other focus countries such as Vietnam and Mexico where we have expended significant effort over a number of years”.

This announcement has been approved by the Board.
Ends

For more information, visit www.truscreen.com or contact:

Dr Beata Edling
Chief Executive Officer
[email protected]

Guy Robertson
Chief Financial Officer
[email protected]

Julia Maguire
Investor Relations
[email protected]

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Announcement PDF