Thomson Medical Group begins FY19 with million-dollar 1Q loss on higher finance costs

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SINGAPORE (May 13): Thomson Medical Group (TMG), formerly known as Rowsley, has announced a S$1 million loss for the 1Q ended March, reversing from earnings of S$89,000 in 1Q18 due to a spike in finance costs in the recent quarter under review.

Revenue for 1Q19 grew 4% to S$54.5 million from S$52.5 million a year ago, due to higher inpatient volumes and higher average bill sizes at the Group’s hospitals and specialist clinics in Singapore and Malaysia.

Operating profits rose 16% to S$9.4 million from S$8.1 million previously, which TMG says is evident of the strength of its underlying core healthcare business... (Click here to read the full story)