TMC LIFE SCIENCES BERHAD ANTICIPATES ROBUST GROWTH
Positive Outlook for FY24
PETALING JAYA, 2 November 2023: TMC Life Sciences Berhad, a prominent player in the healthcare industry, is primed for growth, with positive financial year ending 30 June 2024 (FY24) with a steadfast focus on women & children.
At the group’s 21st Annual General Meeting (AGM) Press Conference today, Chairman YBhg Dato’ Sri Mohd Mokhtar bin Haji Mohd Shariff underscored the organisation’s commitment to growing the Group’s footprint and prudent financial management. He further concluded, “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.”
Executive Director and Group CEO Nadiah Wan expressed the company’s optimism 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 further commented.
For the financial year ending 30 June 2023 (FY23), the Group recorded a substantial 28% increase in revenue, reaching RM311.4 million, with a corresponding 27% surge in profit before taxation, amounting to RM40.9 million compared to the previous year. These impressive figures can be attributed to increased capacity at Thomson Hospital Kota Damansara (THKD) and the recovery of the fertility business.
Specifically, the hospital and fertility business segments contributed RM272.3 million (2022: RM208.8 million) and RM37.3 million (2022: RM32.0 million) in revenue, respectively, for the period ending June 30, 2023.
Key factors influencing the Group’s earnings and revenue 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.
The 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, marking a significant increase from the previous fiscal year. 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 a promising surge in medical tourism with an eye towards capitalising on the growth prospects and opportunities in the region.
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