Company Briefs: Thomson Medical

Thomson Medical

Thomson Medical yesterday announced that it turned in a net loss of $1.01 million for the first quarter - against a net profit of $89,000 a year ago - partly due to higher finance costs.

Revenue grew 4 per cent to $54.52 million in the first quarter on the back of higher inpatient volumes and higher average bill sizes at the group's hospitals and specialist clinics in Singapore and Malaysia.

Loss per share came to 0.0039 cent, compared to earnings per share of 0.0003 cent a year ago.

In Singapore, the group expects to open its new flagship multi-speciality centre at Paragon Medical Centre in phases from late July. In Johor Baru, piling works for the new Thomson Iskandar Medical Hub are expected to be completed by the third quarter of this year.

APAC Realty

APAC Realty's net profit for the first quarter ended March 31 sank 70 per cent year on year to $1.78 million on the back of lower transaction volumes following the cooling measures implemented in July last year.

Revenue fell 26.4 per cent to $77.41 million owing to lower brokerage income from resale and rental of properties and a decrease in brokerage income from new home sales. Earnings per share was 0.49 cent, down from 1.67 cents a year ago.

APAC Realty holds the franchise rights for ERA for 17 countries in the Asia-Pacific. As of yesterday, ERA has secured marketing agent appointments for 42 projects with approximately 16,500 new home units scheduled for sale in FY2019, it said.

Fragrance Group

The recent completion of a major Singapore project dampened results for Fragrance Group in its first quarter, the firm said yesterday. It added that there may be some negative results in some quarters this fiscal year.

For the three months ended March 31, Fragrance fell into the red with a net loss of $3.7 million compared with a net profit of $8.5 million in the previous year.

Revenue fell 78 per cent to $14.5 million from the preceding year. This was led by the property development segment which fell from $51.3 million to $2 million.

Gross profit fell 54.8 per cent to $10.6 million. Fragrance made a loss per share of 0.05 cent, against earnings per share of 0.13 cent in the previous year.

A version of this article appeared in the print edition of The Straits Times on May 14, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe