Medlab Clinical Reports Declining Revenues and Losses

Medlab Clinical Ltd (AU:MDC) has released an update.

Medlab Clinical Limited reported a significant decrease in revenues by 76.5% to $892,081 for the fiscal year ended June 30, 2023, alongside a 5.4% reduction in losses to $6,778,367. No dividends were issued during this period, and the net tangible assets per share drastically fell from 341.62 cents to 56.06 cents, adjusted for a share consolidation. The attached financial statements received an unmodified audit opinion, despite material uncertainty about the company’s ability to continue as a going concern.

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