• Revenue increased 26% to $760,346
• Net loss improved 32% to $386,228
• Biztrak software business achieved profitability in 2024

Cape Range Ltd reported a 26% increase in revenue to $760,346 and a 32% improvement in net loss to $386,228 for the year ended 31 December 2024. The company's Biztrak software business, which operates in Asia, improved strongly during 2024, moving into profitability with a net profit of $131,172 for the year. This was a turnaround from a net loss of $123,992 in 2023. The improved performance was driven by Biztrak's preparations for the e-invoicing mandate in Malaysia, which commenced on 1 August 2024. Biztrak engaged with the Inland Revenue Board of Malaysia to ensure full alignment with e-invoicing requirements and provided training, software upgrades, and support services to its clients. The company also invested considerable effort in supporting and promoting Biztrak's asset management software. At the corporate level, the Board explored potential transactions to build scale, diversify and add value to the company, incurring increased professional and advisory costs. The net loss after tax for the year of $386,228 represented a 32% improvement compared to the previous year's loss of $563,931.