Thomson Medical – CNA

Thomson Medical Centre’s H1 net profit up 22% to S$7.2m

Thomson Medical Centre on Thursday said its half-year profit rose 22 per cent on-year to S$7.2 million.

Revenue for the six months to February rose about 18 per cent to some S$38 million.

Thomson Medical said the improvement in its performance was driven by higher deliveries, inpatient admissions and demand for outpatient services.

It also saw higher revenues from its Thomson Women’s Clinics, Thomson Women Cancer Centre and Thomson Paediatric Centre.

Going forward, Thomson Medical sees its growth drivers coming from its satellite clinics, and new paediatric and women’s cancer centres.

On the regional front, the soft opening of its hospital consultancy and management project in Vietnam’s Binh Duong Province has been delayed to September.

But Thomson Medical said the delay will not affect its financial results this year.

The Group said its second hospital consultancy project in Hanoi, Vietnam, will commence once a suitable site has been identified.

Allan Yeo, group chief executive, said: “We will probably be one of the so-called chain of hospitals for women and children, probably one of the larger chains, and we intend to bring our expertise with us to Vietnam, and to work with our Vietnam partner to look at the local culture, and to deliver the best of both worlds.”

In the second quarter, Thomson Medical’s net profit rose 19.1 per cent to S$3.64 million on revenues of S$18.9 million.