HEALTHCARE services provider TalkMed Group’s : 5G3 0% net profit for the second half (H2) rose 28.7 per cent, thanks to higher revenue from more oncology patient visits in Singapore.

Net profit for the six months ended Dec 31, 2022 rose to S$18.4 million, from S$14.3 million in the corresponding period in 2021.

This was mainly due to an improvement in patient numbers - who came from around the region - following the easing of pandemic measures in Singapore last year, TalkMed said in a regulatory filing on Wednesday (Feb 22).

Earnings per share for H2 2022 stood at 1.39 Singapore cents per share, up from 1.08 cents per share in 2021.

Revenue for the second half of FY2022 rose 38.4 per cent to S$44.1 million, compared to S$31.9 million in the same period in FY2021. Oncology services accounted for S$42.1 million of revenue during the second half, with cellular and gene therapy-related products and services making up the remainder.

This was partially offset by a 17 per cent rise in employee benefits expenses to S$16.1 million during the same period, due to an increase in staff salaries, along with more headcount arising from the group’s operations in China.

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The board has proposed a final dividend of 1.5 Singapore cents per share in H2 2022, up from 0.9 cent in H2 2021.

For the full year ended Dec 31, 2022, TalkMed posted a 21.6 per cent rise in net profit to S$30.5 million, while revenue climbed 26.1 per cent to S$76.6 million.

Said TalkMed: “We are cautiously expecting further uplift to the regional patient numbers as connectivity and traffic between Singapore and the region are progressively restored to pre-Covid 19 levels.”

The rollback of Covid-19 measures in China might result in an improvement to patient numbers on the mainland as well, the group added, as patients there no longer face movement restrictions.

The counter closed unchanged at S$0.40 on Wednesday, prior to the earnings announcement.