Friday 29 Mar 2024
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KUALA LUMPUR (July 26): TMC Life Sciences Bhd's net profit for the third quarter ended May 31, 2018 fell 5.5% to RM5.63 million, from RM5.96 million a year earlier, due to higher operating expenditure that was incurred to strengthen the group's human capital.

Earnings per share dropped to 0.32 sen from 0.34 sen, the group said in a filing to the stock exchange.

TMC Life, which operates the Thomson Hospital (formerly known as Tropicana Medical Centre) in Kota Damansara, said quarterly revenue increased 9.1% to RM44.41 million from RM40.69 million previously, as a result of higher patient load and intensity of medical and surgical cases handled.

TMC Life said cumulative net profit for the first nine months of FY18 rose 11.9% to RM16.72 million from RM14.94 million in the same period of FY17.

Revenue for the nine months was 12% higher at RM125.85 million from RM112.41 million previously.

In a separate statement, TMC Life executive director and chief executive officer Roy Quek said the group has entered an exciting phase with the rebranding of its flagship Thomson Hospital and the completion of piling works for the expansion of the hospital.

The expansion project, which will add another 400 beds to the current 205-bedded hospital, is on track to be completed by end-2020.

"Our net profit and earnings before interest tax depreciation and amortisation have risen by 18% and 21% respectively from the previous quarter. The group is on track for another full-year of sterling performance," he said.

Meanwhile, TMC Life said in a separate filing to Bursa Malaysia that the group's wholly-owned BB Waterfront Sdn Bhd, which is a wholly-owned subsidiary of the company, had awarded a sewerage treatment plant construction and upgrading project to Dataran Tenaga Sdn Bhd, to facilitate the commencement of construction work on the Thomson Iskandar Medical Hub in Johor.

The contract sum for the project is RM19.27 million, which will be funded by TMC Life through internally generated funds.

TMC Life shares closed unchanged at 77 sen today, for a market capitalisation of RM1.32 billion.

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