Fair-value, exchange gains boost Cordlife's Q3 bottom line

Singapore

CORDLIFE Group reported on Monday net profit of S$18.1 million for the third quarter ended March 31, 2015, representing a surge of more than 10 times from S$1.5 million for the corresponding period a year ago.

The boost came as financial-asset and derivative gains for the period totalled S$11.3 million. Also helping were S$4.6 million in exchange differences. Revenue for the group, which has the largest market share of private cord blood banks in Singapore, Indonesia and the Philippines, rose 20.9 per cent to S$14.3 million, driven by an increase in the number of client deliveries from about 4,100 a year ago to 5,400.