Thomson – BT

Thomson’s Q1 earnings climb 24%

It has completed business plan for second Viet project

INCREASES in in-patient admissions, deliveries and ancillary services helped Thomson Medical Centre, a healthcare provider for women and children, deliver a healthy set of results for its fiscal first quarter ended Nov 30, 2009.

Net profit rose 24 per cent year-on-year to $3.53 million, while revenue grew 14.6 per cent to $18.79 million.

Earnings per share were 1.21 cents, up from 0.98 cents.

Revenue from its hospital operations and ancillary services segment – which constitutes about three quarters of the group’s total revenue – was 10.9 per cent higher at $14.24 million.

Revenue from the specialised and other services segment jumped 28.2 per cent to $4.55 million as its Thomson Women’s clinics saw more patients.

Meanwhile, Thomson Women Cancer Centre, which has been up and running since February last year, has begun to contribute positively to the group’s bottom line.

Thomson also said in an announcement yesterday that a senior O&G specialist is expected to take up clinic tenancy in Thomson Medical in Q3 FY2010 while a new satellite clinic is slated to commence operations in Q3 FY2010.

Its hospital consultancy and management project in Vietnam – Hanh Phuc International Women and Children Hospital – will also start operating in Q3 FY2010. The group has completed the business plan for its second hospital consultancy project – a proposed women and children’s hospital also in Vietnam. A suitable land site in Hanoi now has to be found.

‘Our strategic intent is to leverage on our brand name to attract more senior O&G specialists to take up clinic tenancy and expand our reach via a wider network of satellite clinics islandwide,’ said executive chairman Cheng Wei Chen.

‘At the same time, we will continue to work with specialists and suitable business partners to grow organically and develop more value-added, efficient and effective services for our patients.’

Thomson rose half a cent in trading yesterday to close at 69 cents.

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