ISEC Healthcare Q3 profit up 30% on increased patient visits, clinics contributions

SINGAPORE - Increased patient visits and revenue contributions from its JL Medical clinics gave a fillip to results for ISEC Healthcare Limited (ISEC) for its third quarter.

Net profit jumped 29.7 per cent to S$2.2 million from the year-ago period, the group said in a Singapore Exchange filing late on Monday (Nov 13).

For the three months ended Sept 30, revenue climbed 31.3 per cent to S$9.7 million from the preceding year.

The increase in revenue was attributed to increased patient visits from the group's specialised eye care services in Malaysia and Singapore, and revenue contributions from the JL Medical clinics which were acquired on Dec 1, 2016, it said.

Cost of sales increased by 36 per cent, or S$1.34 million, to S$5.1 million for the third quarter in tandem with the increase in revenue. This increase was also due to cost of sales incurred by the JL Medical clinics which was absent in the year ago period, it added.

Earnings per share rose to 0.42 Singapore cent from 0.34 Singapore cent in the previous year.

Net asset value per share was flat at S$0.12 as at Sept 30, compared to nine months ago.

ISEC shares closed unchanged at S$0.315 on Monday.