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Thomson Medical posts S$0.75m Q3 net loss, reverses year-ago profit

MAINBOARD-LISTED Thomson Medical Group posted a net loss of about S$751,000 for the third quarter ended Sept 30, compared to a net profit of S$5.07 million a year ago, it said on Tuesday.

This was attributed to higher operating expenses and costs associated with the opening of its multi-speciality medical centre in Paragon Medical Centre, as well as higher financing costs linked to healthcare asset acquisitions and lower investment tax allowance claimed.

Revenue grew 10 per cent to S$59.6 million on the back of higher overall patient load, increased average bill sizes and greater revenue intensity in the group's hospitals and specialist clinics in Singapore and Malaysia.

Loss per share was 0.003 Singapore cent, compared to earnings per share of 0.004 cent a year ago.

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For the nine months ended Sept 30, net profit was down 85 per cent year-on-year to S$1.7 million from about S$11 million. Revenue edged up 7 per cent to S$171.2 million from S$159.5 million.

Loss per share was 0.002 cent for the nine-month period, while earnings per share was 0.025 cent in the corresponding period of the previous year.

No dividend was declared for the period under review.

Thomson Medical shares closed up 0.1 Singapore cent or 1.7 per cent to S$0.06 before the results were announced.