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International Healthway Q1 profit slips 37%

Catalist-listed International Healthway Corp's net profit for the first quarter ended March 2015 dipped 37 per cent to S$613,000 from S$973,000 a year ago.

Revenue improved 15 per cent to S$10.1 million from S$8.8 million on the back of higher revenue from the group's healthcare services following the acquisition of Jiangsu Chang San Jiao Medical over the period.

Healthcare services revenue from the leasing of 12 fully operational nursing facilities in various parts of Japan remained stable over the period, said the firm in a statement.

As the firm expects the outlook for integrated healthcare services and facilities in Malaysia, Japan and China to remain favourable, it said it will continue to develop its "Asia-centric portfolio".

Earnings per share came in at 0.038 Singapore cents from 0.060 Singapore cents.

No dividend was recommended.