SINGAPORE (Aug 14): Singapore Medical Group (SMG) has announced earnings of $4 million for the half-year ended June, a more-than sixfold improvement compared to its $0.63 million in earnings for 1H16.
Revenue for 1H16 jumped 57.5% to $30.7 million, driven by growth in the group’s cornerstone healthcare segment, which increased in revenue contribution by 42.3% on-year to $21.9 million, mainly due to its subsidiaries, the Astra Companies, which was acquired in Feb this year.
Its topline was further boosted by a 125.7% increase in revenue contributions from the diagnostic & aesthetics segment – which grew to $8.6 million from $3.8 million a year ago on subsidiary Lifescan Imaging (LSI), for which the group acquired its remaining 61.9% interest which it previously did not own, in Sept last year.
