Prenetics Group (PRE) has released an update.
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Prenetics Group has reported a significant increase in gross margin to 63.4% in Q2 2024, driven by operational efficiencies and cost optimization, which contributed to a 23.6% rise in gross profit and a reduced adjusted EBITDA loss by 24.9% compared to the previous year. Revenue from continuing operations showed an 8% uptick in H1 2024, with the company confirming its expectation to surpass US$33 million in revenue for the fiscal year. Additionally, Prenetics is gearing up for the launch of IM8, its new health and wellness brand, in the U.S. market come October.
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