Cordlife profit down 18.3% to S$6.9m

This was mainly due to one-off IPO expenses and higher capital expenditure to drive business growth.

Cordlife Group Limited said that without one-off IPO expenses, FY2012 net profit increased 4.1% to S$8.8 million. Overall, net profit declined by 18.3% to S$6.9 million in the said period.

Meanwhile for the three months ended June 30, 2012, revenue increased by 6.5% to S$7.5 million, from S$7 million in the corresponding period in 2011.

Cordlife said the number of client deliveries increased from approximately 1,700 in 4Q2011 to 1,900 in 4Q2012. Net profit held steady at S$2.3 million in 4Q2012, registering a 0.9% increase.

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