SINGAPORE (May 14): Women’s and children’s healthcare specialist Singapore O&G (SOG) posts a 23.7% increase in earnings to $2.5 million for the 1Q ended March, from $2.0 million a year ago.
1Q18 revenue grew 17.3% to $8.2 million, from $7.0 million a year ago, on the back of higher contribution from its Obstetrics & Gynaecology (O&G), Cancer-related, and Dermatology segments, as well as maiden contribution from its new Paediatrics segment.
As at end March, cash and cash equivalents stood at $20.0 million.
The group’s net asset value rose 5.7% to $46.0 million, or 9.64 cents per share.
“We are delighted with the group’s performance for this quarter and we will continue to grow and strengthen our business in FY 2018,” says Dr Beh Suan Tiong, executive chairman of SOG.
In addition, the group welcomed its new chief executive officer, Dr Ivan Lau Eng Kien, who joined the company on May 2.
“Dr Lau has over 20 years of experience in the healthcare industry and has held several healthcare executive roles in the last seven years. We are confident that Dr Lau will contribute to the continued growth of the group,” Beh adds.
Shares of SOG last closed flat at 36 cents on Friday.
