Thomson – BT

Thomson Medical’s Q4 profit increases 30%

THOMSON Medical Centre has reported a 30 per cent increase in net profit for its fiscal fourth quarter, on the back of strong growth from its core business of providing premium healthcare services to women and children.

Thomson Medical’s net income rose to $3.4 million for the quarter ended Aug 31, 2009, from $2.6 million the year before. Its group revenue jumped 19.6 per cent to about $18.0 million.

The group’s revenue from its hospital operations and ancillary services segment rose 14.5 per cent to $13.5 million. One driving factor was the 21 per cent rise in revenue for both obstetrics and gynaecology services. The group also delivered 240 more babies compared with the year-ago period, bringing the total delivered for the quarter to 2,279.

Revenue from the specialised and other services segment climbed 37.9 per cent to $4.5 million.

For the full year to Aug 31, net profit rose 14 per cent to $12.72 million with revenue up 11.8 per cent at $67.4 million. It declared a final dividend of 1.5 cents and a special dividend of 0.3 cents a share.

‘Our commendable set of results underscores the resilience of our business as well as the progress we have made on several fronts in FY2009, all of which contributed to our double-digit top and bottom line growth,’ said its executive chairman Cheng Wei Chen.

Dr Cheng added: ‘To name a few, Thomson Women Cancer Centre, the first dedicated cancer centre for women in Singapore, commenced operations in February 2009. The recently completed resort-style wards contributed to increased deliveries and inpatient admissions. Our network of satellite clinics continues to bring more patient referrals to the hospital while a senior O&G specialist who took up clinic tenancy in the hospital in April 2009, further added to the utilisation of our hospital’s facilities and services.’

The group said it will continue to develop more value-added services and initiatives to meet the needs of patients and their families under its comprehensive maternity membership programmes.

Thomson Medical also said that its hospital consultancy and management project in Vietnam, the Hanh Phuc International Women and Children Hospital, is scheduled to complete its construction in the fourth quarter of this year, and will begin operations in the third quarter of FY2010.

The group said that, despite the uncertainty of the global economic recovery, it believes the demand for healthcare services will continue to be strong. It expects the Cancer Centre and its regional hospital consultancy services – its new growth drivers – to contribute to its overall performance.

Taking into account the activities lined up for FY2010, Thomson Medical expects to remain profitable in FY2010.

The group’s shares closed unchanged at 60.5 cents yesterday.

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