Thursday 28 Mar 2024
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KUALA LUMPUR (July 28): Hospital operator TMC Life Sciences Bhd saw its net profit for the fiscal quarter ended May 31, 2016 (4QFY15) grow 35.31% to RM5.39 million, from RM3.98 million a year ago, due mainly to higher patient load supported by additional bed capacity, consultants, higher growth in fertility business, and interest income.

Nevertheless, earnings per share (EPS) fell to 0.32 sen, from 0.4 sen previously.

In a filing to Bursa Malaysia today, TMC Life said the abovementioned drivers also resulted in higher revenue of RM34.91 million in the quarter under review, up 22.49% from RM28.5 million last year.

For the 12-month period ended May 31 this year (FY16), TMC Life's net profit rose by 50.11% to RM14.9 million from RM9.92 million in previous corresponding financial period, while revenue increase by 23.76% to RM127.7 million from RM103.19 million previously. EPS fell to 0.88 sen, from 1.01 sen before.

On Oct 1, 2015, the group announced the change of its financial year end to Aug 31.

Accordingly, the current financial period of TMC Life is from June 1, 2015 to Aug 31, 2016.

Moving forward, TMC Life said the growth prospects for the healthcare sector in Malaysia remain positive, fuelled by changing demographics, a more affluent society and more health-conscious lifestyles locally, coupled with growing medical tourism industry.

However, the group also acknowledges that the foreign exchange rate movements have affected its imported supplies of medicines and medical equipment.

"The imposition of the Goods and Services Tax (GST), rising manpower and overhead costs have had an impact on our overall operating cost structure," it said.

With the recent completion of two new wards, TMC Life said its hospital in Kota Damansara, Selangor is now a 200-bed hospital to meet the growing demand.

"The group opened the TMC Care pharmacy in Johor Bahru on July 19, 2016 and the group also plans to open a new TMC Fertility Centre branch in Ipoh (Perak) in September 2016," it said.

TMC Life's share price rose 1.5 sen or 1.75% to 87 sen as at market break today, giving it a market capitalisation of RM1.48 billion.

 

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