Alliance Healthcare Group has reported earnings of $1.92 million for 1HFY2023 ended Dec 31 2022, up 14.1% over the year earlier period. Revenue in the same period was up 1.2% y-o-y to $28.9 million.
The medical group, led by executive chairman and CEO Dr Barry Thng, has two main business segments: providing pharmaceutical services and running GP clinics. These two businesses contributed revenue of $9.15 million and nearly $9.1 million respectively.
Alliance Healthcare breaks down other business segments such as providing specialist medical services and managed healthcare solutions.
Despite the higher earnings, the company plans to refrain from paying an interim dividend, as it prefers to take into consideration its full-year results of operations in view of the current
uncertain economic outlook.
Going forward, Alliance Healthcare believes that with Singapore entering the post-pandemic phase, the volume of patient visits will continue to increase.
“However, an economic downturn or unabated inflation would hurt business growth and profitability,” the company warns.
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Alliance Healthcare shares last traded at 17 cents.
