SINGAPORE (March 1): Q & M Dental posted earnings of $28.3 million for FY16, an increase of 148% from earnings of $11.4 million a year ago.
This was mainly attributable to the group’s one-time gain of $21.3 million from the spin-off of Aidite (Qinhuangdao) Technology Co.
Group revenue for the full year grew 24.9% to $154.9 million, compared to $124.0 million a year ago.
Cash and cash equivalents stood at $44.1 million as at Dec 31, 2016.
Q & M Dental has proposed a final dividend of 0.7 cents per share. This will bring full year dividends to 1.12 cents per share.
“The spin-off of Aidite has resulted in the group enjoying its first substantial fruit from its strategy of identifying, acquiring and realising value from businesses with great potential,” says Group CEO Dr Ng Chin Siau.
Looking ahead, Q & M says it intends to continue looking for opportunities to expand its businesses in Singapore, China, and Malaysia through acquisitions, joint ventures or strategic alliances.
Ng adds that the group has appointed Religare Capital Markets Corporate Finance as its financial adviser to assist with a strategic review of options available for its business to enhance shareholder value.
Shares of Q & M Dental closed half a cent lower at 72 cents on Wednesday.
