SINGAPORE (Nov 12): Cordlife Group reported earnings of $3.7 million for the 15 months ended Sept, reversing a loss of $2 million for the same period a year earlier.

The private cord blood bank’s current financial year spans 18 months, from July 1 2017 to Dec 31 following a change in its financial year-end from June 30 to Dec 31. Financial years starting after FY18 will begin on Jan 1 and end on Dec 31.

The turnaround in the group’s bottom line for the first 15 months of FY2018 came on the back of higher revenue, which lifted its pre-tax operating profit, as well as an absence of non-operating expenses related to a set of notes issued in 2014 and fully redeemed in Dec 2016.

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