SINGAPORE (Nov 29): Asian Healthcare Specialists (AHS) reported 2H18 earnings ended Sept more than trebled to $1 million from $287,000 in 2H17.

This brings FY18 earnings to $2.5 million, up more than five times from $0.4 million, its first full-year results since its listing in April.

Excluding one-off listing expenses of $0.9 million, full-year earnings would have been $3.4 million.

AHS provides a wide spectrum of general and sub-specialised orthopaedic, trauma and sports medical services. These include knee and hip replacements, sports medicine and surgery, spine surgery, foot and ankle surgery and minimally invasive orthopaedic procedures.

Full-year group revenue was down 1.4% at $10.9 million for FY18. Supplies and consumables used rose 18.1% to $1.7 million, staff costs surged more than fivefold to $3.7 million while other operating expenses more than doubled to $2.4 million.

The board of directors has proposed a final one-tier exempt dividend of 0.4 cent per share for FY18. Together with the interim dividend payment of 0.2 cent per share declared in June, the total dividend payment is 0.6 cents per share for FY18.

In its outlook, AHS says growing demand for medical services in Singapore is expected to continue on the back of a growing and ageing population, coupled with an increasing percentage of insured patients in Singapore and the region.

Year to date, shares in AHS are down 23.5% to 26 cents.