Cordlife delivers strong earnings as more clients buy into cord blood banking
Cordlife Group's full year net profit almost doubled to $13.5 million from $6.9 million, on the back of healthy revenue growth, strong margins as well as a S$2.7 million one-time disposal gain.
Revenue for the year ended June 30 rose by 14.6 per cent to $34.7 million, due mainly to an increase in the number of client deliveries, from about 7,200 to 7,700.
The increase in deliveries was due to increased awareness as a result of an increase in educational programmes undertaken by the group.
Cordlife collects, processes, tests, cryopreserves and stores stem cells from the umbilical cord blood of a child at birth, allowing customers to preserve their child's cord blood stem cells for treatment later in his or her life if their child so requires.