Thomson Medical posts Q1 net loss of S$1.01m on higher finance costs

THOMSON Medical on Monday announced that it turned in a net loss of S$1.01 million for the first quarter - versus a net profit of S$89,000 a year ago - partly due to higher finance costs.

Revenue grew 4 per cent to S$54.52 million in Q1 2019 on the back of higher inpatient volumes and higher average bill sizes at the group's hospitals and specialist clinics in Singapore and Malaysia.

Loss per share came to 0.0039 Singapore cent, compared to earnings per share of 0.0003 cent a year ago.

In Singapore, the group expects to open its new flagship multi-specialty centre at Paragon Medical Centre in phases from late-July 2019. In Johor Bahru, piling works for the new Thomson Iskandar Medical Hub, which includes the 500-bed Iskandariah Hospital, are expected to be completed by Q3 2019.

The group said that it expects to remain profitable in 2019.

The counter closed at seven Singapore cents on Monday, down 0.2 cent.