Singapore: Staff costs depress first half profits at AHS

Travis Seet, chief financial officer, AHS

For the first half of the year, profits at Asian Healthcare Specialists (AHS) declined as the orthopaedic specialists focused on its talent pool, and staff costs rose.

Profits slipped 4.2% to S$1.4m (US$1m) on revenues that rose 5.2% to S$5.9m.

Revenues were up after the group acquired Asian Anaesthesia Care for S$11.05m at the end of November last year. The new anaesthesia arm contributed S$0.5m to group revenue in the first half.

Looking forward the group said that it intended to “ride on the growth” of growing demand for medical services in Singapore.

At the end of April last year, orthopaedic specialists Asian Healthcare Specialists (AHS) priced its S$9.5m Catalist IPO at S$0.23 per share. RHT Capital was the issue manager and sponsor while UOB Kay Hian was the placement agent.

Its shares bounced almost 11% today after the release of the results. They were last seen at S$0.26.