HC Surgical Specialists have reported earnings of $4.6 million for the 1HFY2022 ended Nov 30, 2021. The figure is 7.2% lower than earnings of $5.0 million in the 1HFY2021.
Earnings per share (EPS) for the period stood 6.1% lower y-o-y at 3.12 cents.
Revenue for the period fell 5.2% y-o-y to $10.4 million mainly due to the decrease in the number of patients that opted to pursue elective medical treatment in view of the heightened Covid-19 alerts and higher number of community cases.
Other income increased by 60.8% y-o-y to $1.1 million due to higher grants, which includes the Jobs Support Scheme (JSS) and Rental Support Scheme. Other income also includes higher dividend income from invest in financial assets at fair value through profit or loss (FVTPL) and higher interest income.
The fair value gain on financial assets at FVTPL in 1HFY2022 stood at $0.69 million due to the increase in share price of Medinex Limited, in which the company holds a direct interest of 22.92% in. It is also due to the increase in share price of Singapore Paincare Holdings and fair value gain on Acumen Holdings.
An interim ordinary dividend of 1.40 cents per ordinary share has been declared for the 1HFY2022, 0.3 cents lower than the 1.70 cents declared in the previous corresponding period.
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The dividend will be paid on Jan 28.
Shares in HC Surgical closed flat at 55 cents on Jan 11.
Photo: Albert Chua/The Edge Singapore
