ISEC Healthcare (40T) Q3 2024 earnings summary

Executive summary

• Revenue for 3Q2024 rose 5% year-over-year to $19.02 million, driven by increased activity in specialised health services.

• Net profit for 3Q2024 increased 11% to $4.28 million, aided by significant foreign exchange gains.

• For the nine months ended 30 September 2024, revenue grew 4% to $54.39 million and net profit rose 9% to $10.93 million.

Financial highlights

• Gross profit for 3Q2024 was $8.14 million, nearly flat year-over-year, with gross margin declining to 42.8% from 44.7%.

• Other income surged due to foreign exchange gains, while other expenses fell sharply from prior year.

• Administrative expenses increased 20% in 3Q2024 and 11% for the nine-month period, reflecting business expansion.

• Total comprehensive income for 3Q2024 more than doubled to $8.49 million, mainly from foreign currency translation.

Outlook and guidance

• The group expects continued growth from new centre openings and expansion in Malaysia.

• The political situation in Myanmar remains uncertain, but the Myanmar centre continues to operate profitably.

• The group will provide updates on the Kuala Lumpur strata-title acquisition as developments occur.