Dermatology and aesthetic medical services provider Niks Professional has reported earnings of $2.08 million for the FY2024 ended Dec 31, 2024, up 23.3% y-o-y from the $1.7 million reported in the same period a year ago.
The group’s 2HFY2024 earnings came in at $1.15 million, up 94.4% y-o-y.
Earnings per share came in at 1.60 cents per share for the FY2024, up from the 1.30 declared in FY2023. Earnings per share for the 2HFY2024 came in at 0.88 cents per share.
The group’s revenue for the FY2024 grew 3.1% y-o-y to $11.2 million, up from $10.85 million reported in the same period a year ago.
Revenue for the 2HFY2024 grew 4.6% y-o-y to $5.79 million.
The revenue growth was mainly attributable to the increase in sales in the headquarters segment, mainly driven by sales to new regional agents in China, sales generated from its new online store at Tmall and higher volume of sales generated from online stores at the company’s website.
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The higher sales generated from the clinics segment in 2H 2024 compared to 2H 2023 was mainly attributable to higher volume of clinical services rendered to patients.
The group saw an increase in income and gains in 2HFY2024 compared to the reporting period a year ago due to lower government grant income.
The group’s cash and cash equivalents stood at $9.18 million for the FY2024.
In 2024, the group invested in several new machines for clinic and salon use — such as the Tricorpay machines to treat male and female alopecia. The group also expanded its presence in regional distributorships in Guangdong, Hunan and Anhui provinces in China.
It launched new online stores in e-commerce platforms in Singapore and China namely Shopee, Lazada and Tmall, and opened a new clinic in Yishun.
The group says it will expand its presence on social media in the next 12 months, and continues to be on the lookout for potential acquisitions, joint ventures or strategic alliances to augment its business.
Shares in Niks Professional closed 0.1 cents lower or 0.746% down at 13.3 cents on Feb 21.
