TMC Life Sciences Berhad believes that it is prime for growth for FY24, as it recorded a 28% increase in revenue, reaching RM311.4 million for he financial year ending 30 June 2023 (FY23).
It also received a corresponding 27% surge in profit of RM40.9 million before taxation compared to the previous year.
In a statement today (Nov 2), the tertiary and care centre operator attributed the figures to increased capacity at Thomson Hospital Kota Damansara (THKD) and the recovery of the fertility business.
“We are prime for growth for a positive financial year ending 30 June 2024 (FY24) with a steadfast focus on women and children,” it said.
In terms of the revenue, hospital and fertility business segments contributed RM272.3 million compared to RM208.8 million in 2022 and RM37.3 million compared to RM32 million in 2022, respectively, for the period ending June 30, 2023.
The group said the key factors that contributed to the results include the successful recruitment of healthcare professionals, expanded bed capacity, diversification of services, handling higher case intensity, and an ongoing marketing effort aimed at bolstering local and international branding.
Its chairman Datuk Sri Mohd Mokhtar Mohd Shariff said the results underscored the organisation’s commitment to growing the Group’s footprint and prudent financial management.
“Despite facing potential challenges from global and local inflationary pressures, we are dedicated to sustaining profitability by managing expenses carefully and vigilantly monitoring margin challenges,” he said at the group’s 21st annual general meeting (AGM) press conference today.
Meanwhile executive director and group chief executive officer Nadiah Wan said the group is optimistic for the upcoming financial year (FY24).
“We embark on this new fiscal year with a positive and a renewed commitment to striving for excellence. Our projections and strategies align not only with our growth objectives but also with the delivery of enhanced patient care,” she said.
The group said its board has recommended a first and final single-tier dividend of 0.4199 sen per ordinary share, in addition to a special single-tier dividend of 0.4199 sen per ordinary share for FY23. The net amount payable for FY23 is RM14.6 million compared to RM4.8 million in June 2022.
“Looking ahead for FY24, the Group is poised to capitalise on increased capacity at THKD, the resurgence of the fertility business, and promising medical tourism with an eye towards capitalising on the growth prospects and opportunities in the region,” it said.
