HC Surgical Specialists (HCSS) 1B1 has reported another year of lower earnings at $2.8 million for its FY2023 ended May 31, a 56.3% decrease from FY2022, as it booked losses from its investments in other listed companies.
Earnings per share fell 56.3% to 1.87 cents from 4.28 cents the previous year, while revenue fell 1.2% to $19.08 million from $19.31 million in FY2022.
This is due to non-operational losses, amounting to $3.5 million as compared to non-operational gains of $0.3 million in FY2022.
The group’s fair value loss on financial assets amounted to $1.74 million, due to the decrease in share prices of three other listed companies, Medinex, Singapore Paincare Holdings and Aoxin, with which it holds a direct interest of 22.66%, 3.31% and 0.34% respectively.
The directors are recommending a final dividend of 1 Singapore cents, subject to shareholders’ approval at the forthcoming Annual General Meeting to be convened.
Prior to this, the group has already paid an interim dividend of 1 Singapore cents per share in March 2023. In aggregate, the total dividend for FY2023 amounts to 2 Singapore cents per share.
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The group will have its first orthopaedic specialist joining in June 2023, which is “an important first step to broaden the spectrum of the group’s medical services”.
Shares in HCSS closed flat at 4.1 cents on Jul 27.
