Thomson Medical Group achieves 1H22 PATMI of $12.5m

This is a 54% rise from the same period last year.

Thomson Medical Group Limited (TMG) posted a $12.5m profit after taxation and minority interests (PATMI) for the first half of the financial year 2022 that ended on 31 December 2021 (H1 2022), up 54% year-on-year (YoY).

The Singapore healthcare company attributed the growth in their PATMI to the increase in their patient load, higher average bill size and project-related services.

TMG’s total revenue likewise grew in H1 2022, rising 25% YoY to $145.4m.

Of the total revenue, Singapore contributed $108.91m or three-quarters.

The 30% increase in Singapore’s revenue was attributed to “income from core services such as obstetrics, gynaecology, and paediatrics, further augmented by income from managing vaccination centres and a community treatment facility for COVID-19 patients.”

The growth in the total revenue pushed up the company’s earnings before interest, taxes, depreciation by 12% to $39.5m.

On the other hand, the company saw a drop in their other income by 39% to nearly $5m due to a “decrease in grants received under the Singapore government’s Job Support Scheme and property tax rebates.”

Looking forward, Dr Wong Chiang Yin, TMG’s executive director and group CEO, said the company is “cautiously optimistic about prospects in the current financial year as regional economies gradually re-open with the successful rollout of vaccination programmes.”