Aoxin Q&M Dental posts 46 per cent fall in profit for FY2017

AOXIN Q&M Dental Group reported a 16 per cent growth in its topline for the year ended Dec 31, 2017. Its revenue grew to 100.7 million yuan (S$21 million), from 86.9 million yuan the year before.

Its net profit attributable to shareholders, however, fell 46 per cent year-on-year to five million yuan in FY2017, from 9.3 million yuan in FY2016.

The Catalist-listed company said that the drop in profitability was due mainly to the 5.8 million yuan incurred during the year for professional fees and expenses related to its public listing in April 2017; the amount was a 75 per cent increase from similar fees and expenses incurred the year before.

Excluding the listing fees and expenses, the company said, its net profit attributable to shareholders would have been 10.7 million yuan in FY2017, compared to 4.6 million yuan in FY2016.

Aoxin's board has recommended a final dividend of 0.2 Singapore cents per share in respect of FY2017.

The company's shares were unchanged on Tuesday.