HC Surgical Specialist profits up 38% to $1.21m in Q1

New acquisitions from the previous financial year brought growth.

SGX-listed HC Surgical Specialists' profits soared 38% to $1.21m in Q1 FY2019-20 ending August, an announcement revealed. Revenue likewise jumped 27.9% to $4.92m over the same period.

The growth in revenue was partly attributed to contributions from new acquisitions during the previous financial year, which include the Jason Lim Endoscopy and Surgery (JLES) and the Medical Services @ Tampines, where an additional 50% equity interest was acquired in September 2018. Existing subsidiaries also recorded increases in income.

Other income increased mainly due to dividend income from investment in financial assets at fair value through profit or loss (“FVTPL”) of $253,000.

The company has expressed plans to expand in Vietnam through Heliconia's network.