Q&M Dental Group has reported earnings of $9.5 million for the 3QFY2021 ended September, up 69% y-o-y.
This translates to earnings per share of 1.01 cents for the third quarter, compared to 0.6 cents the previous year.
Revenue for the 3QFY2021 came in at $57.7 million, up 48% y-o-y, mainly driven by revenue from the medical laboratory and dental equipment & supplies segment, which surged more than ten times to $18.4 million, compared to $1.8 million the previous quarter.
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EBITDA for the 3QFY2021 grew 121% to $21.4 million. The group’s net profit after tax increased by 175% to $13.9 million, from $5.1 million in the previous period.
On a year-to-date basis, Q&M reported revenue of $116.6 million, up 36% y-o-y, with revenue from the medical laboratory and dental equipment & supplies segment surging 334% to $35.7 million.
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The group’s EBITDA also increased 104% to $52.9 million, from $25.9 million in the previous period. Earnings per share increased to 2.89 Singapore cents, from 1.46 Singapore cents in the previous period.
As at Sept 30, Q&M’s cash and cash equivalents stood at $49.6 million.
The group proposes an interim dividend of one cent per ordinary share for the 3QFY2021. Earlier in the year, the group paid 1 cent in 1Q2021 and 1 cent in 2Q2021. The 3Q2021 dividends will be paid to shareholders on Dec 3.
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The group’s number of dental clinics in Singapore has grown to 90 as of Sep 30, up from 81 as at Sept 30, 2020. Similarly in Malaysia, the number of dental clinics has increased to 38, as compared to 33 previously. In order to support this growth, the Group has also increased its total number of dentists to 270 as at Sept 30, as compared to 250 previously.
In 3Q2021, Q&M opened three new clinics in Singapore, in Canberra, Bedok Reservoir and IMM shopping mall.
During the quarter, the group's spin-off company Aoxin Q&M also acquired a 49% shareholding in Acumen Diagnostics, which raised Q&M’s effective interest in Acumen Diagnostics from 51% to 67%.
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Looking ahead, barring any unforeseen circumstances and any worsening of the Covid-19 situation, the group says it is optimistic on its business outlook and prospects moving forward.
For Acumen Diagnostics, the group will continue to offer Covid-19 testing by PCR for patients that require PCR test results and for travellers as Singapore opens its borders, as well as distribute Covid19 antigen rapid tests (ART). The group will also develop a panel of new PCR tests in infectious diseases, sepsis and cancer.
Shares in Q&M closed up 0.5 cents or 0.9% higher at 56 cents on Nov 10.
Photo: Albert Chua/The Edge Singapore
