Livingstone Health says that the reversal into earnings is a result of ongoing streamlining efforts, in which the group managed to lower its operating costs.
Employee benefits expenses reduced to $15.0 million, and other operating expenses reduced to S$4.9 million.
Due to improving accounts receivable collection as the group stepped up in chasing payments, the group recorded a net bad debt recovery of approximately $43,000 in FY2025 compared to a net impairment loss of financial assets of $0.6 million in FY2024.
Other operating income for the year came in at $0.8 million and another gain of about $58,000 due to the consolidation of Atlas Podiatry, its joint venture.
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The group also recorded a higher net operating cash flow of $3.9 million compared to $0.9 million in the same period a year ago.
As at end March, net assets stood at $6.4 million, and cash and cash equivalents stood at $3 million. Bank borrowings decreased to $2 million as at end March due to repayments.
Shares in Livingstone closed flat at 2.3 cents on May 29.
