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Q&M Dental FY2017 profit drops 16% due to one-off gain the year before
Q&M Dental Group (Singapore) Limited (Q&M) reported a 16 per cent drop in net profit attributable to its parent of S$23.9 million for FY2017, from S$28.3 million the year before.
The company had recorded a one-time gain from the spin-off of its Aidite arm in FY2016; excluding this item, Q&M said, its net profit attributable to its parent would instead be a 23 per cent increase to S$14 million in FY2017, from S$11.4 million in FY2016.
Revenue from the group's dental and medical clinics decreased by 5 per cent year-on-year to S$112.8 million for FY2017, while revenue from its dental equipment and supplies distribution business decreased 22 per cent to S$10.7 million in FY2017; this was due mainly due to the deconsolidation of its Aoxin subsidiary in April 2017.
There was no revenue contribution from the group's dental supplies manufacturing division in FY2017 after Aidite was deconsolidated in December 2016.
Q&M's board has recommended a final dividend of 0.42 Singapore cent per share and a special dividend of 0.5 Singapore cent per share for the period.
The company's shares closed 0.5 Singapore cent higher at S$0.64 on Tuesday.