Hot stock: Thomson Medical seesaws after H2 results release

SHARES of Thomson Medical dipped before rising on Tuesday (Aug 29) morning following the release of its results for the second half and full year ended June.

As at 9.04 am, the counter was down S$0.002 or 3.5 per cent to S$0.056, with 1.4 million securities transacted.

It eventually regained its footing amid a surge in volumes, rising S$0.002 or 3.5 per cent to S$0.06 as at 10.01 am. At the time it was also the second-most actively traded by volume as 18.5 million of its shares changed hands.

No married deals were recorded in early trade, according to ShareInvestor data.

Thomson Medical on Monday evening reported a 66.7 per cent year-on-year drop in net profit to S$13.8 million for its second half ended Jun 30, 2023, as revenue fell 8.8 per cent on lower income received from project-related services.

For the full year, net profit was down 32 per cent to S$36.6 million as revenue slipped 6.6 per cent on the year.

Its executive director and group chief executive Melvin Heng nonetheless noted increased patient loads in both its Singapore and Malaysia operations, particularly in fertility services and paediatric medicine.

He added that the group remains focused on its plans to expand and enhance its medical centres and clinics in Singapore, including a multi-year asset enhancement initiative of its flagship hospital in the city.