Singapore Medical Group swings back into profit in FY2016

SINGAPORE Medical Group swung into the black with a net profit of S$2.42 million for the financial year ended December 2016 from a loss of S$148,000 a year ago.

This marks the highest net profit that the health care provider has chalked up since its initial public offering in 2009, it said in a statement.

Revenue rose 34.3 per cent to a record S$41.58 million from S$30.97 million previously which was attributed to robust growth in its health care and newly formed diagnostic and aesthetics segment.

Earnings per share came in at 0.84 Singapore cent versus a loss per share of 0.05 Singapore cent.

No dividend was declared over the period, the same as the previous year.