Hot stock: HC Surgical surges 19% following strong H2 results

SHARES of medical services provider HC Surgical Specialists 1B1 jumped 18.8 per cent or S$0.09 to S$0.57 in early trade on Wednesday, with 225,300 shares changing hands as at 9.29am.

No married deals were recorded, according to ShareInvestor data.

The surge comes after the Catalist-listed group on Tuesday announced a 64.7 per cent increase in H2 net profit to S$3 million for the six months ended May 31, as revenue rose 78 per cent to S$12.4 million.

HC Surgical said in a statement that the increase was due to "pent-up demand for its services post circuit-breaker".

The board has recommended a final dividend of 2.3 cents a share, compared with 0.7 cent previously. This will bring the full-year payout to four cents a share, twice the dividend of two cents paid out for the year before.

As at 9.51am on Wednesday, the counter was trading at 54.5 Singapore cents, up 6.5 cents or 13.5 per cent.