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Cordlife’s organic revenue unlikely to return to pre-Covid levels in next two years: SAC Capital

Bryan Wu
Bryan Wu9/7/2022 02:33 PM GMT+08  • 3 min read
Cordlife’s organic revenue unlikely to return to pre-Covid levels in next two years: SAC Capital
In Singapore, Cordlife competes with the public cord blood bank, Singapore Cord Blood Bank, which also offers private banking services
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In an unrated report dated Sept 2, SAC Capital analyst Peggy Mak sees lower births and a cut back in discretionary spending as likely factors to be a drag on Cordlife’s organic revenue.

Mak’s report comes after Cordlife reported its results for the 1HFY2022 ended June on Aug 11. During the half-year period, Cordlife saw a 4.0% y-o-y decline in its revenue of $26.2 million as cord blood banking operations have been slow to pick up even as elective healthcare spending has resumed with the economic reopening. Its 1HFY2022 net profit fell by 24.1% y-o-y to $1.9 million.

Cordlife’s total number of samples collected fell 4.5% y-o-y to 8,400, with growth in India offset by decline in Singapore and Hong Kong, although Mak notes that the revenue per sample is lower in India.

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