SOC.ASX: Half Yearly Report and Accounts

Half Yearly Report and Accounts

Stock	Soco Corporation Ltd (SOC.ASX)
Release Time	28 Feb 2025, 9:10 a.m.
Price Sensitive	Yes

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SOCO Corporation Ltd Reports Half Yearly Results

Key Points

Revenue up 17.8% to $11.03 million
Net loss after tax down 82.8% to $150,885
Operating EBITDA improved 422% to $648,301

Full Summary

SOCO Corporation Ltd has reported a strong financial performance for the half-year ended 31 December 2024. Revenue increased by 17.8% to $11,034,947, up from $9,370,782 in the previous corresponding period. Operating EBITDA (prior to significant items) improved significantly by 422% to $648,301, compared to $124,059 in the previous half-year. The statutory net loss after tax was $150,885, down 82.8% from a loss of $876,314 in the prior period. This improvement was driven by higher revenue, increased operating efficiency, and reduced acquisition and public company costs. The Group has a strong net cash balance of $1,590,929 and additional available funds of $2,416,667 from its amortising debt facility. SOCO has invested in expanding its sales and marketing capabilities to grow its client base, which is expected to deliver returns in subsequent years. The Directors consider Operating Earnings Before Interest and Tax (EBIT) to be the core earnings metric for the Group, which showed a 236.1% improvement to $159,390.

Guidance

The Group expects to deliver improved financial performance in subsequent years as the investment in sales and marketing capability starts to yield returns.