Wellnex Life Ltd (AU:WNX) has released an update.
Wellnex Life Ltd reported a revenue of $16.9 million for FY24, a 39.3% decrease from the previous year, attributed to a strategic exit from low-margin brokerage arrangements. Despite the revenue decline, the company saw a 76% increase in margins, with a significant rise to 40% in the second half of FY24. Looking forward, Wellnex Life is poised for growth in FY25 with strong margins and an aim to increase shareholder value, propelled by recent acquisitions and product line expansions.
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