Thomson Medical narrows H2 net loss to S$19.5 million on lower goodwill impairment, finance costs
The group’s loss per share has improved to S$0.00074, from S$0.00131 a year earlier
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[SINGAPORE] Healthcare operator Thomson Medical narrowed its net loss for the second half ended Jun 30 to S$19.5 million, from a net loss of S$34.7 million for the previous corresponding period.
The lower net loss came on the back of a 48.7 per cent reduction in other operating expenses to S$61.3 million, from S$119.4 million a year earlier.
In a bourse filing on Wednesday (Aug 26), the group attributed this mainly to a lower impairment loss on goodwill arising from its acquisition of Far East Medical Vietnam. This amounted to S$15.2 million, compared with S$75.1 million previously.
Thomson Medical’s net finance costs also fell 14.7 per cent to S$23.2 million in H2, mainly due to lower interest rates.
Revenue rose 5.8 per cent year on year to S$207 million, from S$195.6 million. Loss per share improved to S$0.00074, from S$0.00131 a year earlier.
No dividend was declared for FY2026, unchanged from the previous financial year, as the group intends to “conserve cash for its working capital needs and to fund any potential growth opportunities”.
Thomson Medical attributed the top-line increase mainly to “higher revenue intensity in Singapore”, reduced discounts to corporate consumers and higher revenue contributions from its oncology centre in Malaysia.
“In addition, the revenue in Vietnam has also increased due to higher patient volumes,” the group added, noting that the increase was “offset by an unfavourable exchange rate… which resulted in lower translated revenue from Vietnam”.
For the full year ended Jun 30, Thomson Medical recorded a net loss of S$27.8 million, narrowing 40.8 per cent from the net loss of S$47 million posted for FY2025.
Full-year revenue rose 6.4 per cent to S$420.1 million, from S$394.7 million a year earlier.
Looking ahead, Thomson Medical “expects to continue incurring losses over the next 12 months as it continues its investment, expansion and transformation”.
“However… the group is well positioned to capture emerging opportunities and translate its capabilities into sustainable, quality growth and greater value,” it added.
The counter ended 1.9 per cent or S$0.001 higher at S$0.054 on Wednesday, before the results were released.
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