ISEC Healthcare (40T) Q2 2024 earnings summary

Executive summary

• Revenue for 1H2024 rose 3% year-over-year to S$35.37 million, driven by higher specialised health services in Malaysia.

• Net profit increased 7% to S$6.65 million for 1H2024, with gross profit margin stable at 44.3%.

• The group declared a first interim dividend of 0.30 Singapore cents per share, payable on 29 August 2024.

Financial highlights

• Specialised health services revenue grew by S$1.17 million, while general health services declined by S$0.18 million.

• Cost of sales and administrative expenses both increased 3% and 7% respectively, in line with business expansion.

• Net cash generated from operating activities was S$7.40 million; cash and cash equivalents stood at S$15.87 million as of 30 June 2024.

• Earnings per share (basic and diluted) for 1H2024 were 1.14 Singapore cents, up 7% year-over-year.

Outlook and guidance

• The group is fulfilling conditions for a property acquisition in Kuala Lumpur and continues to seek expansion opportunities in Cambodia, Vietnam, and Myanmar.

• Myanmar operations remain profitable despite ongoing political uncertainty.