ISEC Healthcare expects Q2 loss; 'significantly lower profit' for H1

Published Tue, Aug 4, 2020 · 12:21 AM

MEDICAL eye care services provider ISEC Healthcare on Monday night said the group is expected to report a net loss for the three months ended June 30, along with a "significantly lower profit" for the first half of fiscal 2020.

This is based on a preliminary review of the group's unaudited financial results, the Catalist-listed firm said in a regulatory filing.

The expected net loss for Q2 is mainly due to an impairment loss of goodwill relating to the general health services business segment.

Meanwhile, the lower profit for H1 is mainly attributable to a decline in revenue, as a result of decreased business activities from the group's specialised health services segment amid the Covid-19 outbreak, ISEC Healthcare said.

The firm added that it is still in the process of finalising its results and will provide further details when it announces its unaudited financial results for Q2 and H1 on, or before Aug 14.

Shares in ISEC Healthcare closed at 30 Singapore cents on Monday, down 0.5 cent or 1.6 per cent, before the release of its profit warning.