SINGAPORE (May 14): Q&M Dental Group (Singapore) reported a 17% increase in 1Q18 earnings ended March to $4.5 million from $3.8 million in 1Q17.
Total revenue fell 10% to $28.7 million mainly due to the deconsolidation of Aoxin from a subsidiary to an associate in April 2017 offset by higher revenue from dental equipment and supplies distribution companies in Singapore and Malaysia in 1Q18.
Sales from dental and medical clinics decreased 8% to $26.7 million for 1Q18 from $28.9 million for 1Q17 mainly due to the deconsolidation.
Sales from dental equipment and supplies distribution business decreased 35% to $2.0 million in 1Q18 from $3.1 million in 1Q17.
As at March 31, the group has a total of 69 dental outlets, four medical outlets in operations, compared to 71 dental outlets, four medical outlets and one aesthetic centre as at the end of 1Q17 in Singapore.
The group also has a total of 14 dental outlets in Malaysia and a dental outlet in China compared to seven dental outlets in Malaysia and four dental hospitals and eight dental outlets in China as at the end of 1Q17.
As at March 31, Q&M has cash and cash equivalents of $38.4 million and bank borrowings plus finance leases amounting to $86.7 million.
Shares in Q&M closed at 60 cents on Monday.
