SINGAPORE (Nov 9): Cordlife Group has swung back to profitability in 1Q18, posting earnings of $649,000 compared to a loss of $574,000 in 1Q17.
Revenue for the first quarter ended September was 13.2% higher at $16.6 million from $14.7 million a year ago, mainly due to an increase in newborn deliveries to 6,700 in 1Q18 from 6,300 in 1Q17.
The increase in revenue was also partly due to lower discounts given in India and the Philippines in lieu of more value-added services provided to clients in these countries.
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