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Thomson Medical Group posts 48% drop in 3Q earnings to $1.1 mil on higher operating expenses

Stanislaus Jude Chan
Stanislaus Jude Chan11/10/2018 02:04 AM GMT+08  • 2 min read
Thomson Medical Group posts 48% drop in 3Q earnings to $1.1 mil on higher operating expenses
SINGAPORE (Nov 10): Healthcare services provider Thomson Medical Group (TMG), formerly known as property group Rowsley, saw its earnings fall 48% to $1.1 million for the 3Q18 ended September, from $2.2 million a year ago.
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SINGAPORE (Nov 10): Healthcare services provider Thomson Medical Group (TMG), formerly known as property group Rowsley, saw its earnings fall 48% to $1.1 million for the 3Q18 ended September, from $2.2 million a year ago.

The group’s profit from continuing healthcare operations fell 45% to $5.1 million in 3Q18, largely due to higher operating expenses owing to business expansion and cost inflation of goods, services and wages.

Meanwhile, net loss from its discontinued real estate business narrowed by 45% to $3.9 million on the back of the disposal of Ariva and a fair value gain from re-measurement of the purchase consideration payable.

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