The group’s profit was also due to lower interest rates and the absence of the real property gain tax rate in Malaysia. Excluding Covid-19 related grants, the group recorded a net profit after tax (NPAT) of $4.5 million. As at Dec 31, 2020, cash and cash equivalents stood at $117.8 million. In its outlook statement, the group says there is uncertainty on the transition of normalcy due to the new waves of Covid-19 infections in Malaysia and across the globe.
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“Despite the adverse business conditions, the group continued to remain agile and focused on its long-term growth strategy. In the third quarter of FY2021, the group expects to launch its first dedicated specialised learning centre for children with developmental delay as part of the Thomson Kids subsidiary platform,” says the group. Barring another wave of community cases, the group says it remains cautiously optimistic in its performance outlook in FY2021.