Thomson Medical profits balloons 572.7% to $29.49m in H1

Higher profits were boosted by increased patient load.

Thomson Medical Group (TMG) reported a whopping 572.7% increase in its profit attributable to the owners to $29.49m for the six months ended 30 June.

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The group recorded an increase of 52.2% to $188.32m in its revenues for the year's first half (H1).  Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 123% to $50.22m in H1.

The group said higher profits were boosted by an increase in patient load, larger average bill size, COVID-19-related projects, and the opening of a new wing in Malaysia.

These results translated to earnings per share of S$0.156 compared to S$0.023 a year ago.