Cordlife

Cordlife: Reported a 12.1% increase in rev to $28.8m, although net profit declined 18.3% to $6.9m due to one-off ipo expenses. Without IPO expenses, net profit up 4.1% to S$8.8 million Rev driven by rise in number of client deliveries and new cord tissue banking services in Hong Kong, while group achieved higher gross margin of approximately 70.0%. Overall fundamentals remains strong with grp in a net cash position. Grp has declared dividends of 3.8c to date and remains poised for further geographical expansion with recent proposed acquisition of China’s largest cord blood banking operator.