Q&M Dental Q2 net profit surges 51% on Covid-19 testing
Revenue doubles to S$50.8m on the back of new outlets opening
Singapore
DENTAL healthcare group Q&M on Friday posted a 51 per cent rise in net profit for the fiscal second quarter from a year ago, thanks to higher revenue from its existing outlets in Singapore compared with the year-ago period, which was impacted by "circuit-breaker" closures.
Net profit for the three months ended June 30, 2021 amounted to S$11.4 million.
This is compared with a net profit of S$7.6 million posted in the same period a year ago.
The results translate to earnings per share of 1.06 Singapore cents, against earnings per share of 0.87 cent from the year-ago period.
Revenue doubled to S$50.8 million from S$24.9 million on the back of its opening of seven more outlets in Singapore, as well as four new outlets in Malaysia compared with last year.
As a participant in the nationwide Covid-19 testing effort, Q&M said it also saw a 191 per cent surge in revenue from its medical laboratory and dental equipment and supplies segment of its business, posting revenue of S$12.7 million in Q2 2021 versus S$4.4 million in Q2 2020.
Q&M obtained a licence to open its Covid-19 medical laboratory in September 2020.
The board has proposed a second interim dividend of one Singapore cent per share, to be paid out on Sept 3, 2021.
Shares of Q&M climbed 5.6 per cent or 4.5 Singapore cents to close at 85.5 cents on Friday.
