Singapore Paincare Holdings reported a 53.3% y-o-y decrease in earnings for the 1HFY2025 ended Dec 31, 2024 of $453,000, a significant decline from the $969,000 reported in the same period a year before.
Earnings per share stood at 0.26 cents for the reporting period.
The group’s revenue grew 2.8% y-o-y for the 1HFY2025 to $13.73 million due to increase in revenue from specialist clinics & TCM which has more than offset the decrease in revenue from general practitioners (GP) clinics.
The decrease in revenue from GP clinics is due to the divestment of non-performing clinics. Singapore Paincare Holdings says that this decrease was largely compensated by some relatively new GP clinics which experienced large increases in revenue as they began to establish a firm foothold in their operating vicinity.
Share of results of associates reversed from a profit of $0.16 million in 1HFY2024 to a loss of $0.12 million in 1HFY2025, mainly due to share of losses from Shanghai Gong Pu and Beijing Puxin.
The Group reported a loss of $0.04 million from the share of results of the joint venture in 1HFY2025 for Singapore Paincare Capital.
Cash and cash equivalents of $6.92 million as at Dec 31, 2024 comprise mainly of cash at bank.
As at Dec 31, the group’s network includes 10 GP clinics, five specialist centres and three other facilities providing physiotherapy, traditional Chinese medicine and health screening services.
Shares in Singapore Paincare Holdings closed 0.8 cents higher or 9.64% up at 9.1 cents on Feb 14.
