ISEC Healthcare (40T) Q3 2025 earnings summary

Executive summary

• Revenue grew 9% year-over-year in 3Q2025 and 8% for the nine months ended 30 September 2025, driven by increased business activities in specialised health services, particularly in Malaysia.

• Net profit declined 9% year-over-year in 3Q2025 and 2% for the nine-month period, mainly due to higher administrative expenses and lower net foreign exchange gains.

Financial highlights

• 3Q2025 revenue: $20.69 million (up 9% year-over-year); 9M2025 revenue: $58.51 million (up 8%).

• 3Q2025 net profit: $3.89 million (down 9% year-over-year); 9M2025 net profit: $10.76 million (down 2%).

• Gross profit margin improved to 43.9% in 3Q2025 (from 42.8%) and 44.5% in 9M2025 (from 43.8%).

• Administrative expenses rose 8% in 3Q2025 and 14% in 9M2025, reflecting expansion and higher staff costs.

• Other income fell 88% in 3Q2025 and 59% in 9M2025, mainly due to lower foreign exchange gains.

Outlook and guidance

• Construction of new strata-title units in Kuala Lumpur is on schedule, with operations expected to commence by 2027.

• The group is actively seeking expansion opportunities in Vietnam and Myanmar, while strengthening its core markets.

• Political uncertainty in Myanmar persists, but the Myanmar centre remains operational and profitable.