Thomson Med: 4QFYAug10 net profit +18.5% yoy to $4m, bringing total net profit to $15.9m. 4Q revenue +23.3% to $22m on the back of strong performances by both its hospital operations & ancillary svcs (+11%), as well as its specialised and other svcs division (+61%)…
Patient loads increased at Thomson Women's Clinics (TWC) and Thomson Women Cancer Centre (TWCC) as well as new contribution Thomson Paediatric Centre (TPC). In FY10, the group handled 9,268 deliveries in its hospital, +4.1% yoy, while its operating theatres saw 7,482 cases, +3.2% yoy.
Co declares final div of 2cts/sh (2% yield based on last close at $1.01), 1-for-10 bonus issue…
Looking ahead, the group's consultancy and mgt project in Binh Duong Province in Vietnam, the Hanh Phuc International Women and Children Hospital, will begin operations next month. However, over in Spore, group has delayed plans to open another two operating theatres, with work expected to commence in 2Q11 instead.
Stock trades at 19.2x PE, vs closest peer Raffles Med at 27x.
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