Singapore Medical Group posts 25.1% rise in Q4 profit
SINGAPORE Medical Group on Monday posted a 25.1 per cent rise in its fourth quarter net profit to S$3.7 million, up from S$2.9 million for the same period a year earlier.
Earnings per share for Q4 came in at 0.76 Singapore cent, versus an earnings per share of 0.61 Singapore cent in the preceding year.
Revenue for the three months ended Dec 31 was S$25.9 million, up 16.5 per cent from S$22.2 million a year ago. This was due to an increase in revenue from its health business segment, as well as its diagnostic and aesthetics business segment.
The board of directors has declared a maiden dividend of 0.8 Singapore cent per ordinary share, representing a dividend payout ratio of 28.3 per cent. Books closure and the dividend payment date will be announced at a later date.
For the full year, net profit climbed 5.7 per cent to S$13.7 million, versus S$12.9 million a year ago.
In the near term, the group expects to be impacted by the Covid-19 outbreak, as consumer discretionary spending will be affected, which will in turn affect elective medical services within its diagnostics and aesthetics segment, the company said. Furthermore, medical tourism is expected to remain poor in the short term due to the virus spread in the region.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Beyond its existing footprints in Singapore, Vietnam, Indonesia and Australia, the group continues to explore new areas for growth in Vietnam, Indonesia, Cambodia, Thailand and Malaysia, it said.
Singapore Medical Group shares closed at S$0.34 on Friday, up S$0.02 or 6.3 per cent.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Digital Core Reit Q1 distributable income slips 2.4% to US$10.6 million
Hong Kong Stock Exchange bids farewell to first woman chair
Toymaker Hasbro posts quarterly profit beat, slower sales decline
CapitaLand India Trust Q1 net property income up 19%
Hilton lifts 2024 profit forecast on international travel demand
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%