Alliance Healthcare Group's H2 profit surged 196.1% YoY to $1.6m

Revenues from all business segments rose.

Alliance Healthcare Group saw its profit skyrocket 196.1% YoY to $1.6m in H2 from $0.5m in 2019, an SGX filing revealed. Likewise, revenue jumped 22.3% to $20.8m from $17m over the same period.

The revenue increase is attributed to growth seen across all of its business segments -: managed healthcare solutions, GP clinics services, specialist care services and pharmaceutical services.

Revenue from its managed healthcare solutions edged up 12% YoY to $2.9m, driven by higher gross value of claims processed by the group. Revenue from its GP clinics services also rose by approximately 3.7% YoY to $8.6m, which is attributed to improved performance from its clinics.

Meanwhile, its specialist care services also grew significantly in revenue by approximately 88.6% to $4.9m after its orthopaedics clinic that started operations in December 2018. Lastly, revenue from its pharmaceutical services jumped 25% to $4.4m as a result of sales increase within Singapore.

The Group’s profit before tax (PBT) surged 118% YoY to $2m in H2.