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TalkMed Group Q4 net profit up 16.4% to S$9.59m

TALKMED Group on Tuesday posted a net profit of S$9.59 million for the fourth quarter ended Dec 31, up 16.4 per cent from a year ago, on the back of higher revenue and a decrease in the share of loss of associate Hong Kong Integrated Oncology Centre Holdings Limited.

Revenue rose 25.2 per cent to S$18.96 million, mainly attributed to the increase in the number of patient visits as compared to the same corresponding period last year.

Earnings per share for Q4 stood at 0.73 Singapore cent, compared to 0.63 cent a year ago.

A final dividend of S$0.01065 per ordinary share was declared for FY18, compared to S$0.01370 per ordinary share for FY17. If approved, it will be paid out on May 16.

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Net profit for FY18 was down 9.8 per cent to S$28.91 million, while revenue fell marginally by 0.1 per cent to S$61.28 million, attributed to a decrease in FY18 revenue from stem cell services in Singapore as compared to FY17.

Earnings per share for FY18 was 2.20 Singapore cents, down from 2.44 cents previously.

In its outlook, the group said that its business is dependent to a large extent on the economic performance of Singapore and countries in South-east Asia. It noted that it is facing pressure on revenue from the competition arising from lower medical costs in neighbouring countries.