[SINGAPORE] Livingstone Health Holdings Limited booked a net profit of S$0.4 million for the second half-year ended Mar 31, a reversal of the net loss of S$2.9 million in the year-ago period.
The turnaround came mainly from its ongoing streamlining efforts, the Singapore-based medical group said in a regulatory filing on Thursday (May 29).
The mainboard-listed company operates 20 clinics in Singapore; it has 22 medical specialists and practitioners, a health-screening centre, two medical aesthetics clinics and a podiatry clinic. It also provides healthcare consultancy services within the region.
Earnings per share likewise rose to 0.07 Singapore cents, from a loss per share of 0.66 cents in the year-ago period.
H2 revenue rose 17.9 per cent to S$14.2 million, from S$12 million the year before. This was mainly attributable to higher revenue contribution from all business segments.
The latest results bring Livingstone’s full-year net profit to S$0.6 million, swinging back into the black from a full-year net loss of S$2.9 million the year before. Full-year revenue grew 9 per cent to S$27.6 million.
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Commenting on the results, the group’s executive director and chief executive officer, Wilson Tay, said the retention of its medical professionals helped sustain its revenue.
To improve efficiency, Livingstone streamlined its operations and optimised cost structures. This included reducing its spending on employee benefits by S$0.2 million to S$15 million, and other operating expenses by S$0.1 million to S$4.9 million.
The company also stepped up on its efforts to collect on accounts receivable, resulting in a net bad-debt recovery of S$43,000 in FY2025, also a turnaround from the net impairment loss of S$0.6 million in FY2024.
Livingstone recorded other operating income of S$0.8 million, mainly from government grants, rental income and interest income. It also registered a net other gain of around S$58,000 from the consolidation of its joint venture, Atlas Podiatry.
Dr Tay noted that the group completed its acquisition of the remaining 49 per cent stake in Phoenix Medical Group (PMG) in August 2024.
He added that an internal reorganisation of PMG’s primary-care operations also built a dedicated team to improve clinic efficiency, including at its new outlets.
He said these were “accretive investments” that aligned with Livingstone’s strategy of expanding its primary-healthcare segment through PMG’s established networks.
Livingstone plans to strengthen its operations by reaching more patients and enhancing cross-referral networks among its medical services.
It is also exploring new revenue sources, including marketing and business-development initiatives to attract more international patients to its Specialist Healthcare segment.
As at 11 am on Friday, shares of Livingstone Health were down S$0.002 or 8.7 per cent at S$0.021.
