Q&M Dental Group’s net profit for the first half ended June 2024 rose 84 per cent year on year to S$9.8 million versus S$5.3 million in H1 FY2023.
Earnings per share (EPS) stood at S$0.0104, up from S$0.0056 in the same period a year prior.
Its board has proposed a S$0.004 per share interim dividend to be paid out on Sep 2. It represents a 150 per cent increase over S$0.0016 in the prior year, and translates to a payout ratio of 39 per cent.
On Monday (Aug 12), Q&M Dental attributed its H1 net profit growth to higher revenue and net other gains. This mainly comprised a gain on disposal of a subsidiary, as well as compensation from ex-vendors for a settlement and termination deed.
Revenue for the first half grew 2 per cent to S$88.8 million from S$87.1 million, driven mostly by higher contributions from the group’s Singapore dental clinics.
It helped to partially offset lower revenue from the group’s medical laboratory business and dental distribution business, as well as lower profit guarantee income.
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Q&M Dental noted that its gearing for H1 FY2024 stood at a lower 0.71 times as at Jun 30, 2024, versus 0.78 times as at end-2023.
The lower gearing further strengthens Q&M Dental’s financial position, said group chief executive Ng Chin Siau.
“While this has been a solid performance so far for this H1 FY2024, we remain focused on and committed to solidifying the fundamentals of the group,” said Dr Ng.
“We will expand our network, embrace innovative technologies such as artificial intelligence, and enhance operational efficiencies to drive future success.”
Shares of Q&M Dental ended Thursday flat at S$0.265.
