Q& M Dental Group (Singapore) Reports 22 per cent Growth in Total Profit Net of Tax for Third Quarter 2015

  • Group revenue for 3Q15 increases by 7.60 per cent to $30.60 million from $28.44 million amidst challenging market conditions.
  • Net profit attributable to shareholders rose by 17 per cent to $2.73 million from $2.34 million.

Q & M Dental Group (Singapore) Limited, a leading private dental healthcare group in Asia, posted an increase of 17 per cent growth in net profit attributable to shareholders to $2.73 million for the three months ended 30 September 2015 (‘3Q15’), from $2.34 million for the corresponding quarter in 2014 (‘3Q14’).

Revenue from the Group’s dental and medical clinics for 3Q15 increased by 6 per cent to $23.73 million from $22.42 million in 3Q14. The increase of $1.31 million was attributed to higher revenue from new dental outlets in Singapore, the acquisitions of TP Dental Surgeons Pte. Ltd., Tiong Bahru Dental Surgery Pte. Ltd. and Bright Smile Dental Surgery Pte. Ltd. in September 2015, as well as revenue contribution from the Aoxin Stomatology Group based in Liaoning Province,China. This was offset by an increase in the cost of consumables and supplies used in the dental and medical clinics, interest and professional expenses relating to the Medium Term Notes amounting to approximately $2 million.

The Group’s profit after tax in 3Q15 rose 22 per cent to $3.98 million from $3.27 million in 3Q14 and for the nine months ended 30 September 2015, the Group’s net profit after tax increased by 111 per cent to $12.78 million compared to $6.07 million for the nine months ended 30 September 2014.

As of 30 September 2015, the Group has cash and cash equivalents of $67.99 million.

Dr. Ng Chin Siau, Group Chief Executive Officer said: “The Group’s result for 3Q15 demonstrates our resilience amidst the challenging market conditions. Even as uncertainty looms in the economy, the Group will continue to pursue new growth opportunities, maintain cost discipline and remain responsive to any challenges ahead.”