Singapore Paincare Holdings has reported a loss of $4 million for the FY2025 ended June 30, reversing from earnings of $2 million in FY2024.
In the 2HFY2025, the company also reported a loss of $4.5 million, down from earnings of $1.1 million in the same period last year.
Revenue for the full year fell by 3.5% y-o-y to $26 million, mainly due to the decrease in revenue from Allied Health Services and general practitioner clinics, offset by revenue from specialist clinics. The lower revenue from general practitioner clinics was mainly due to the disposal of GM Medical on March 1, 2024, and AE Fernvale on Sept 16, 2024. The lower revenue from Allied Health Services is due to the winding down of Ready Fit Physiotherapy in FY2025.
Other income rose by 95.7% y-o-y to $1.1 million, mainly due to the receipt of government grants and chronic-related payments.
During the period, the company made an impairment of goodwill of $2.66 million from PTL Spine & Orthopaedics Pte Ltd and AE Medical Sengkang Pte Ltd as the clinics were loss-making at the end of the FY2025.
Share of results of associates came in at a loss of $66,000, down from earnings of $235,000 last year, mainly due to share of losses from Shanghai Gong Pu and Beijing Puxin, offset by share of profit from KCS Anaesthesia Services.
See also: ESR-REIT has reported a distributable income of $134.6 million for the 9MFY2025, 6.8% higher y-o-y
Share of results of joint venture also stood at a loss of $733,000, down from earnings of $579,000 last year, mainly due to a revaluation loss on the company’s Puxiang investment.
As at June 30, cash and cash equivalents stood at $5.2 million.
As at 9.22am, shares in Singapore Paincare are trading 0.1 cent lower or 0.63% down at 15.7 cents.
