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OUE Lippo Healthcare swings back into the black in 1Q

Michelle Zhu
Michelle Zhu5/8/2019 06:02 PM GMT+08  • 2 min read
OUE Lippo Healthcare swings back into the black in 1Q
SINGAPORE (May 8): OUE Lippo Healthcare (OUE LH) has posted $0.2 million earnings, reversing from its 1Q18 loss of $2.7 million due to lower finance costs, higher other income as well as higher share of results of equity-accounted investees.
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SINGAPORE (May 8): OUE Lippo Healthcare (OUE LH) has posted $0.2 million earnings, reversing from its 1Q18 loss of $2.7 million due to lower finance costs, higher other income as well as higher share of results of equity-accounted investees.

This comes despite a 7.3% decline in revenue to $4.8 million from $5.2 million previously, which came on the back of lower revenue from the group’s China pharmaceutical distribution business although revenue from rental of its Japan nursing facilities remained stable y-o-y.

In line with the lower revenue, cost of sales declined 22.4% to $1.3 million from $1.6 million, resulting in relatively flat gross profit of $3.5 million when compared to a year ago.

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