SINGAPORE - Cord blood bank Cordlife has posted a first quarter net profit of S$7.3 million, reversing a loss of $3.5 million in the same period last year.
This was driven by the group's efforts in expanding its reach to more cities in India, Indonesia and Philippines as well as increased educational and marketing activities in Singapore and Hong Kong to raise customers' awareness of the importance of cord blood and cord lining banking, said the group.
Revenue in the three months ended Sept 30 was S$14.5 million, up 9.7 per cent from the same period a year ago, thanks to a rise in client deliveries.
Cordlife has declared a special interim dividend of 13.0 cents per share to be distributed on Dec 3, following its disposal of China Cord Blood Corporation shares and a convertible note.
Earnings per share stood at 2.8 cents, up from a loss per share of 1.32 cents a year ago. Net asset value per share as at Sept 30 was 65.2 cents, up from 62.46 cents as at June 30.
The results were announced after market close. The counter closed one cent lower at $1.365 on Friday.