Thomson Medical – BT

Thomson Med net up 39% to $4.8m

THOMSON Medical Centre (TMC), which provides private healthcare services for women and children, posted a 39 per cent jump year-on-year in net profit to $4.8 million for the third quarter ended May 31, 2010.

Revenue rose 25.4 per cent to $21.83 million on the back of robust performances by both its hospital operations & ancillary services segment and specialised & other services segment. Better margins from both operations also improved gross profit margin from 42.7 per cent to 44.7 per cent. Earnings per share for the quarter were up from 1.18 cents per share in 3Q09 to 1.64 cents in 3Q10.

‘Thomson Women Cancer Centre (TWCC) and newly started Thomson Paediatric Centre (TPC) together contributed 38 per cent of (specialised and other services) segment revenue. These results are very encouraging to us as TWCC and TPC only opened in February 2009 and January 2010 respectively,’ said Allan Yeo, group chief executive. Its seven Thomson Women Clinics (TWC) accounted for 40 per cent of revenue for the segment.

‘We continue to actively look out for new high-density areas island-wide to expand our network of women’s satellite clinics under TWC,’ Mr Yeo added.

During the quarter, its specialised and other services segment grew 68.4 per cent to $6.84 million while its hospital operations & ancillary services segment increased 12.3 per cent to $15 million. In Q310 itself, TMC delivered 2,291 babies, up 2.7 per cent from 2,231 babies in Q309.

Overseas, TMC’s consultancy and management project in Vietnam – the Hanh Phuc International Women and Children Hospital – is now slated for a soft opening in October. The group’s second consultancy project in Hanoi, Vietnam will commence after a suitable site has been found.

TMC shares closed 0.7 per cent up at $0.72 yesterday.

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