Gross profit in 1HFY2024 also decreased by 8.50% y-o-y, mainly due to an increase in the cost of inventories, consumables and surgery expenses.
Despite the revenue drop, the company’s fair value gains on financial assets of $0.8 million in 1HFY2024 compared to its fair value losses of $0.9 million in 1HFY2023 contributed to its earnings increase.
HCSS holds a direct interest in Medinex (SGX:OTX
) , Singapore Paincare Holdings (SGX:FRQ) and Aoxin, shareholdings of 22.66%, 2.44% and 0.34%, respectively.
As at Nov 30, the company’s cash and cash equivalents stood at $6.5 million.
See also: Marco Polo Marine's FY2025 earnings up 169.7% y-o-y on one-off gains and higher chartering income
An interim dividend of 0.7 cents per ordinary share has been recommended for 1HFY2024, payable on March 13.
Shares in HCSS closed unchanged at 30 cents on Jan 11.
