SINGAPORE (Feb 19): TalkMed Group posted a 16.4% increase in earnings to $9.6 million for the 4Q18 ended December, from $8.2 million a year ago.
However, the improved 4Q failed to stop the private healthcare services provider from registering a 9.8% decline in earnings for the full year. TalkMed saw its FY18 earnings fall to $28.9 million, from $32.0 million in FY17.
The increase in revenue in 4Q18 was mainly attributed to an increase in the number of patient visits. As a result, 4Q revenue jumped 25.2% to $19.0 million, from $15.1 million a year ago.
Employee benefits expense surged 66.8% to $5.9 million during the quarter, compared to $3.5 million a year ago.
This was mainly due to an increase in staff salaries, higher bonuses paid out and additional staff recruited during the year to support growing business activities.
Earnings per share (EPS) rose to 0.73 cent for 4Q18, compared to 0.63 cent a year ago.
As at end December, cash and cash equivalents stood at $74.0 million.
The board has recommended a final dividend of 1.065 cent for the period, 22.2% lower than the final dividend of 1.370 cent declared a year ago.
Moving ahead, the group says it is facing pressure on revenue from competition arising from lower medical costs in neighbouring countries.
Shares in TalkMed closed 1 cent higher, or up 1.8%, at 57 cents on Tuesday.
