Cordlife Q2 earnings down 25% on margin pressure, rising costs

HEALTHCARE company Cordlife posted a net profit of $4.2 million for its second quarter ended Dec 31, 2013, 25 per cent down from a year ago, due to margin pressure and rising costs.

An increase in client deliveries boosted revenue for the quarter by 31.4 per cent to $12.1 million.

For its half year, however, the company, which provides cord blood and tissue banking services, posted a net profit of $12.9 million, up 52.9 per cent from a year ago. But this was driven by roughly $11.5 million of one-off items such as fair-value gains and transfers of investment in associate to long-term investments.