SAM Holdings warns of a profit slump in FY24

Thanks to a slower-than-expected expansion in business operations.

The Singapore Institute of Advanced Medicine (SAM Holdings) expects a significant net loss for the fiscal year ended 30 June 2024 (FY 2024), due to the group’s slower-than-expected progress in its business operations, which may result in impairment to its assets.

Ahead of its preliminary FY 2024 results, the company said in a local bourse filing “there is a risk that the Group may continue reporting losses.”

The group incurred loss after tax in FY23 due to the continued development and expansion of business operations, with risks of continued reported losses.

SAM Holdings is in the process of finalising its unaudited financial results. Further details will be disclosed on or before 29 August.