SINGAPORE (Aug 11): Singapore O&G saw earnings surge 90.7% to $5.17 million in the first half of 2016.

This was mainly due to maiden contribution from the group’s new dermatology segment, as well as an increase in patient loads for its obstetrics and gynaecology (O&G) and cancer-related segments.

Revenue rose 80.5% to $13.94 million in 1H16, from $7.72 million in the first half of 2015.

SOG’s new dermatology clinic contributed $4.3 million in revenue in 1H16.

The group’s O&G segment gained market share with a total delivery of 801 babies in 1H16, a 6.9% increase compared to the corresponding period last year.

Its cancer-related segment also saw a significant increase in turnover and patient loads, with revenue increasing 114.2% to $1.3 million in 1H16.

Expenses for consumables and medical supplies used increased by 150.1% $2.0 million for 1H16, due to the specialities of the dermatology and cancer-related segments.

Employee benefits expense increased 67.0% to $4.3 million in 1H16, mainly due to the salary and benefits expense of its dermatology segment which started in January 2016, and the increase in average headcount of clinical staff.

Singapore O&G says it will continue to "review its expenses for cost containment”.

The board of directors declared an interim dividend of 1.53 cents per share, a 73.9% increase compared to the interim dividend of 0.88 cents in the corresponding period last year.

“We remain positive moving forward and in line with our commitment to a high dividend payout rate, barring any unforeseen circumstances, the full year final dividend should be larger than the interim dividend,” says Dr Ng Koon Keng, CEO of Singapore O&G.

Shares of Singapore O&G closed 2.4% lower at $1.20 on Thursday.

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