Q&M Dental Group has reported earnings of $14.6 million for the FY2024 ended Dec 31, 2024, 27% higher y-o-y. 2HFY2024 earnings, however, fell by 22% y-o-y to $4.8 million.
FY2024 earnings per share (EPS) stood at 1.55 cents, up 27% y-o-y.
During the year, the group’s profit after tax for its core dental business rose by 10% y-o-y to $27.8 million.
Total FY2024 revenue fell by 1% y-o-y to $180.7 million as core dental revenue inched up by 0.5% y-o-y, but was offset by a 29% y-o-y decline in revenue for the group’s “other businesses”.
Core dental revenue grew to $173.8 million from $173 million last year due to higher contributions from Q&M’s Malaysia operations. Other businesses revenue fell mainly due to the cessation of the group’s medical laboratory business in September 2024.
In its March 1 results release, Q&M said it intends to carry out share buybacks of up to 50 million ordinary shares, although no further details were provided.
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The group has declared a second interim dividend of 0.7 cent per share, bringing its total annual dividend to 1.1 cents per share, or a payout ratio of 71%. In comparison, Q&M paid out a total of 0.69 cents in FY2023 representing a payout ratio of 57%.
This year’s second interim dividend will be paid on March 26.
Cash and cash equivalents as at Dec 31, 2024, stood at $34.3 million.
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Q&M’s group CEO Dr Ng Chin Siau called FY2024 a “year of resilience and strategic progress” for the group, noting that the group’s bottom line rose despite “challenges” including the ceasing of its medical laboratory business
“As we look ahead, we are focused on strengthening our presence in Singapore and expanding across the Southeast Asian region and China, ensuring that we continue to deliver high-quality, patient-centric dental care,” he says.
“Our vision is clear: To be the premier provider of dental healthcare services in the region, and we are confident in our ability to create lasting value for our stakeholders,” he adds.
As at Dec 31, 2024, Q&M has 106 dental clinics, five medical outlets, a dental college and a dental equipment & supplies distribution company in Singapore. The group has 38 dental clinics and a dental equipment & supplies distribution business in Malaysia.
Shares in Q&M closed 0.5 cents lower or 1.72% down at 28.5 cents on Feb 28.
