We refer to an article published in The Edge Financial Daily, page 8 on Tuesday, 24 June 2015 entitled “Bioalpha eyes 30% annual growth”.
The Company wishes to clarify that the Company’s revenue grew at a compound annual growth rate of 30% per annum for the past 3 years. In relation thereto, the Company’s Key Performance Indicator (KPI) is to achieve 20% to 30% growth in revenue for the financial year ending 2015.
We wish to confirm that the bases and assumptions in deriving the revenue target are based on management estimates and have not been reviewed by the external auditors.
This announcement is dated 25 June 2015.