HC Surgical reports fiscal first half net profit dropped 7 percent on Covid impact

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HC Surgical Specialists reported Tuesday its fiscal first half net profit dropped 7.2 percent on-year to S$4.64 million due to rising concerns over Covid-19 amid increased community cases, compared with the year-earlier period showing pent-up demand after the “Circuit Breaker” lockdown period ended.

Revenue for the six months ended 30 November declined 5.2 percent on-year to S$10.41 million, the company said in a filing to SGX.

The company posted a fair value gain of around S$690,000, on the increase in the share price of Medinex Ltd., in which HC Surgical owns a 22.92 percent direct interest and a 9.5 percent deemed interest, the increase in the share price of Singapore Paincare Holdings, in which the company owns 3.31 percent directly, and a fair value gain on Acumen Holdings, the filing said.

In the year-earlier period, HC Surgical posted a fair value gain of S$1.54 million.

HC Surgical declared an interim dividend of 1.4 Singapore cents, to be paid on 28 January.

HC Surgical Specialists is a medical services group mainly offering endoscopic procedures, including gastroscopies and colonoscopies, and general surgery services, mainly focused on colorectal procedures. It has a network of 16 clinics in Singapore.



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