Medical clinic operator Singapore Paincare Holdings has reported a net loss of around $47,000 for the half-year ended Dec 31, 2025. This is in contrast to earnings of around $0.78 million for the previous corresponding period.
The drop in net profit is mainly attributable to an increase in employee benefits expenses — increase in remuneration given to the practitioners and staff and new hires — which rose 14.2% y-o-y from $6.5 million to nearly $7.5 million.
Revenue for the Catalist-board company declined slightly y-o-y by 1.2% to $13.6 million. The company’s cash and cash equivalents declined by around 41% y-o-y to slightly more than $4.1 million from $6.9 million. Net assets stood at $17.7 million a h-o-h decline of 5.6%.
Outlook-wise, the company says the tightening of claims by insurers continues to impact its business since FY2025 ended Jun 31, 2025. It plans to pursue digital transformation of its clinics nationwide, including operating its own digital application. Management remains cautious of the increasingly competitive environment in which it operates and will monitor the developments closely.
Shares in the company remain unchanged at 11.2 cents on Feb 13.
