Medinex posts 22% rise in H1 net profit to S$1.3m on revenue rise
MEDICAL support services provider Medinex, which debuted on Catalist last December, saw net profit tick up 21.95 per cent to S$1.3 million for the first half of the year, lifted by revenue from its subsidiaries.
Revenue grew 33.98 per cent to S$6 million for the six months to June 30, as Medinex recorded full contributions from subsidiaries Patceljon Professional Services and Jo-L Consultus. Its newly acquired units, Sen Med Holdings and Ark Leadership & Learning, also contributed to revenue.
Earnings per share stood at 0.98 Singapore cent, down from 1.11 cents for the same period a year ago, with a larger share base.
Net asset value came in at 10.45 Singapore cents per share against 10.31 cents previously.
Medinex has proposed an interim dividend of 0.84 Singapore cent per share.
Looking ahead, the group said it remains cautious about the operating environment of the healthcare industry due to the "general, slow momentum of the economy in Singapore and the region".
But it added that it is optimistic about demand for its services, citing an expanded range of medical support services and human resource management services.
Of the S$5.3 million Medinex raised from its listing, about S$4.3 million has since been used to expand the group's operations and as working capital.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Far East Hospitality Trust Q1 net property income rises 6% to S$25.1 million
Boeing gets a welcome respite with US$10 billion bond offering
Hong Kong vies with US in Bitcoin ETF market after crypto’s revival
Chevron CEO expects ExxonMobil arbitration resolved in coming months
Paramount replaces CEO with trio as it talks merger with Skydance
MicroStrategy posts loss on impairment charge, revenue declines