Singapore O&G Limited has reversed from its losses to earnings of $6.2 million for the 2HFY2020 ended December.

In comparison, the Catalist-listed company posted a loss of $5.1 million in 2HFY2019.

The group saw earnings surge to $10.8 million for the FY2020 from $619,000 from the year before.

Revenue for the 2HFY2020 was up 4.3% y-o-y to $22.0 million while revenue for the full-year increased marginally to $39.9 million, a 0.3% growth y-o-y.

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Singapore O&G’s Obstetrics & Gynaecology (O&G) and Paediatrics segments registered growth in revenue of $0.8 million and $0.3 million respectively.

The increase is attributable to overall growth in its patient load for its new clinics – SOG – Clara Ong Clinic for Women, SOG – Christina Ong Clinic for Children and Gastroenterology and SOG – Petrina Wong Clinic for Children Respiratory and Sleep, which commenced operations in May 2019, November 2018 and February 2019.

Other operating income stood at $1.4 million from $0.4 million last year for the FY2020 due to the government’s Covid-19-related schemes.

FY2020 earnings per share (EPS) stood at 1.99 cents on a fully diluted basis from loss per share of 0.24 cents for the FY2019.

SEE: Singapore O&G expects to record net profit after tax for FY2020 in profit guidance

The board has recommended a final dividend of 1.20 cents per share in view of its performance for the FY2020, which brings total dividend for the full-year to 1.70 cents per share, representing 85.2% of the group’s earnings.

Total dividend for the FY2019 stood at 0.62 cents per share.

As at end-December, cash and cash equivalents stood at $35.5 million.

Shares in Singapore O&G closed flat at 25 cents on Feb 25.