Asian Healthcare Specialists H2 profit up 56.4 per cent to S$2.45m

MEDICAL services group Asian Healthcare Specialists (AHS) 1J3 : 1J3 0% posted a 56.4 per cent increase in net profit to S$2.45 million for the second half of the year.

This brings full-year net profit up 73.2 per cent to S$4.48 million, it said an announcement on Friday (Nov 26), after trading hours.

The board proposed a final one-tier exempt dividend of S$0.0028 per share, which will be subject to shareholders' approval at an upcoming annual general meeting.

Together with the interim dividend payment of S$0.0042 per share declared on May 14 this year, the total dividend payment for FY 2021 will be S$0.007 per share.

The group's earnings growth comes on the back of stronger revenue, mainly due to the consolidation of the results of Cornerstone Asia Health, in which it acquired a 51 per cent stake in February 2020.

In FY 2021, Cornerstone contributed S$13.7 million to the group's revenue for the year, which stood at S$27.6 million.

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AHS said its revenue growth was also due to an increase in the number of patient visits compared to last year and the commencement of operations of an ENT (ear, nose and throat) clinic in November 2020.

AHS chief executive officer Chin Pak Lin said: "Being a medical professional myself, I understand the pressures and challenges of the profession and I would therefore like to extend my personal heartfelt thanks to each and every colleague for the unselfish dedication, commitment and courage in going beyond the call of duty."

Shares of the Catalist-listed AHS ended Friday down 1.19 per cent or S$0.002 at S$0.166.