Hot stock: Thomson Medical hits 10-month high after posting surge in H2 profit

SHARES of mainboard-listed Thomson Medical Group jumped as much as 3.4 per cent during early morning trade on Monday (Aug 29), after the group logged a 572.7 per cent jump in net profit for the second half of 2022.

The healthcare provider’s counter reached a high of S$0.091 as at 9.40 am, up S$0.003. The last time the counter closed near this level was on Oct 18, 2021. There were no married deals recorded, according to ShareInvestor data.

By 11.51 am, Thomson Medical was up 1.1 per cent or S$0.001 to S$0.089. It was also the fourth most traded by volume on the Singapore bourse, with 33.9 million shares changing hands at the time.

In its results announcement on Monday morning, Thomson Medical said net profit for the 6 months ended Jun 30 stood at S$41.3 million, compared with a net profit of S$6.1 million posted the same period a year ago. This came on the back of revenue growth as a result of a rise in patient loads and higher average bill sizes.

Its board also proposed a record special dividend of 0.115 Singapore cent per share for the full year ended Jun 30, compared with 0.015 cent in the year-ago period. This came as net profit for the full year surged 277.6 per cent to S$53.8 million from S$14.2 million.