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Singapore Paincare Holdings reports earnings of $803,000 for 1HFY2023, down 64.6% y-o-y

Felicia Tan
Felicia Tan • 3 min read
Singapore Paincare Holdings reports earnings of $803,000 for 1HFY2023, down 64.6% y-o-y
Dr Bernard Lee from Singapore Paincare. Photo: Albet Chua/The Edge Singapore
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Singapore Paincare Holdings (SGX:FRQ) has reported earnings of $803,000 for the 1HFY2023 ended Dec 31, 2022, 64.6% lower than earnings of $2.3 million in the same period the year before.

The lower earnings were due to the generally higher expenses, although changes in inventories, employee benefits expenses and other expenses grew the most y-o-y.

Revenue, however, increased by 32.4% y-o-y to $11.0 million due to the increase in patients from the nation-wide vaccination programmes against Covid-19, a well as the arrivals through the Vaccinated Travel Lanes (VTLs) and the reopening of borders.

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