On the other hand, revenue from dental and medical clinics remained flat y-o-y at $39.2 million during the third quarter.
Dental clinic operator Q&M announced that its 3QFY2022 earnings have declined by 62% y-o-y to $3.6 million from $9.5 million a year ago. This brings earnings per share to 0.38 cent per share, compared to 1.01 cent per share last year.
This comes on the back of total revenue decreasing by 26% to $42.5 million from $57.7 million in the previous year. This was mainly due to an 82% y-o-y decline in the group’s medical laboratory and dental equipment & supplies segment which saw revenue drop by 82% y-o-y to $3.3 million, with less demand for Covid-19 testing in Singapore after the opening of the Singapore economy which no longer requiring extensive Covid-19 testing, as well as the reduction on Covid tests prices to maintain competitiveness in the market.
