I am pleased to present the company’s annual report for FY2021 and highlight our accomplishments and challenges. Despite a year that remained dominated by supply chain issues and restricted access to customer sites, Austco Healthcare increased FY21 net profit after tax to $3.4 million, up from $2.5 million in FY20.
This is also the first year in which we have operated under our new name – Austco Healthcare. The adoption of the new corporate name has aligned all of Austco’s global subsidiaries as the company continues to focus on enhancing its market leading software suite with advanced clinical workflow, task management and business intelligence solutions.
Just like last year, FY2021 was a year of two distinct halves, presenting both challenges and opportunities for our team. The first half saw revenue continue to be hampered by supply chain issues and customer site access restrictions throughout most of our regions due to COVID-19 disruptions. Despite continuing to win orders from customers, our revenues dropped to $13.9 million in 1H21. In the second half of the financial year, regional site access restrictions still existed but were shorter in duration and in fewer regions at any one time. These opportunities allowed second half revenue of $17.3 million, which was a 25% increase compared to the first-half sales revenue.
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