Singapore Medical Group posts flat profit of S$3.14m for Q3

Singapore Medical Group's net profit stayed flat for the third quarter ended Sept 30, the healthcare provider reported on Monday.

Net profit edged down 0.1 per cent to S$3.14 million from S$3.16 million a year ago, as higher administrative expenses and distribution and selling expenses offset a 9.6 per cent increase in revenue to S$24.17 million.

Earnings per share was 0.65 Singapore cent, compared with 0.66 cent in the third quarter of the previous year.

For the nine months ended Sept 30, net profit remained flat as well, marginally down 0.1 per cent to S$9.98 million. Revenue rose 9.4 per cent to S$68.82 million.

Earnings per share for the nine-month period was 2.07 Singapore cents, down from 2.13 cents a year ago. No dividend was declared for the period under review.

Net asset value per share was 29.35 Singapore cents as at Sept 30.

Singapore Medical Group shares closed up 0.5 Singapore cent or 1.52 per cent to S$0.335 before the results were announced.