Continue reading this on our app for a better experience

Open in App
Floating Button
Home News Results

Singapore Paincare back in the black with earnings of $1.97 mil for FY2024

Khairani Afifi Noordin
Khairani Afifi Noordin • 1 min read
Singapore Paincare back in the black with earnings of $1.97 mil for FY2024
The company plans to approach FY2025 with caution. Photo: Albert Chua/The Edge Singapore
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Singapore Paincare has posted earnings of $1.97 million in FY2024, compared to a loss of $0.67 million in FY2023.

Earnings per share for the year stood at 1.15 cents, compared to 0.38 cents in FY2023.

Revenue increased 21.9% y-o-y to $26.91 million in FY2024 mainly due to increase in revenue from specialist clinics (SPs) and the general practitioners (GP) clinics. 

The higher revenue was augmented by the incorporation of Alexandra Medical and Paincare Clinic and acquisition of Boon Lay Clinic & Surgery as well as majority of the established clinics, which turned in a higher top line. 

The company recorded a net decrease in cash and cash equivalents of about $2.72 million during FY2024, resulting in cash and cash equivalents of $6.92 million as at June 30.

The company currently operates 19 clinics in Singapore, including 11 GP clinics, five SP clinics, two physiotherapy centers, and one traditional chinese medicine center. 

See also: Fortress Minerals reports earnings of US$6.8 mil in 1HFY2025, down 4.4% y-o-y

It is cautiously optimistic about its business outlook, despite significant challenges in the evolving healthcare insurance landscape. “As the landscape becomes more complex, the group plans to approach FY2025 with caution, recognising the difficulties in navigating these changes,” the company adds.

Shares in Singapore Paincare closed flat on Aug 29 at 12 cents.

 

×
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.