Written by The Edge
Singapore Medical Group, the provider of specialist and general practitioner healthcare services, today announced a more than 28% increase in revenue to $18.7 million for the 6 months ended 30 June 2010 (1H2010).
This was $4.1 million higher than what was achieved in the corresponding period of 2009 (1H2009). The group also registered a gross profit of $10.5 million for 1H2010, up 30% million compared to 1H2009.
Stronger sales were reported by the Eye Cluster which grew by 23%, the Aesthetics Cluster which grew by 43%, and the Critical Illness Cluster which grew by 72%.
The group’s profit before tax for 1H2010 was over $2.0 million compared to $1.0 million in 1H2009 representing an improvement by 101%.
The group ended 1H2010 with a cash position of $7.1 million. Net working capital improved also by $1.3 million. As at 1H2010, the group’s net assets were $6.2 million, an increase of $1.4 million from $4.8 million in 1H2009.
Singapore Medical Group’s board is recommending an interim, tax-exempt dividend of 0.82 cents per ordinary share, equivalent to a dividend payout ratio of 70% and an annualised dividend yield of 9% for 1H2010.
Dividend : S$0.0082
