TMC Life Sciences Berhad Poised for Remarkable Growth Following Strong FY23 Performance
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TMC Life Sciences Berhad, a leading healthcare organisation renowned for its commitment to women and children’s health, proudly announced its outstanding financial performance for the fiscal year ending 30th June 2023 (FY23). With a robust focus on prudent financial management and strategic expansion, the company is set for significant growth in the upcoming fiscal year ending 30th June 2024 (FY24).
At the 21st Annual General Meeting (AGM) Press Conference held today, Chairman YBhg Dato’ Sri Mohd Mokhtar bin Haji Mohd Shariff emphasised the organisation’s dedication to expanding its footprint and ensuring responsible financial management. Despite potential challenges arising from global and local inflationary pressures, he reaffirmed that the company’s commitment to sustaining profitability by meticulous expense management and vigilant monitoring of margin challenges.
Executive Director and Group CEO Nadiah Wan expressed her optimism for FY24, stating, “We embark on this new fiscal year with renewed commitment and a positive outlook. Our projections and strategies are not only aligned with our growth objectives but also focused on delivering enhanced patient care.”
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For FY23, TMC Life Sciences Berhad reported an impressive 28% increase in revenue, totalling RM311.4 million, along with a corresponding 27% surge in profit before taxation, amounting to RM40.9 million compared to the previous year. This remarkable growth can be attributed to the expanded capacity at Thomson Hospital Kota Damansara (THKD) and the recovery of the fertility business. The hospital and fertility business segments contributed RM272.3 million and RM37.3 million in revenue, respectively, for the period ending 30th June 2023.
Key factors influencing the Group’s exceptional performance include the successful recruitment of healthcare professionals, expanded bed capacity, diversification of services, handling higher case intensity, and ongoing marketing efforts aimed at strengthening local and international branding.
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In recognition of this outstanding performance, the Board has recommended a first and final single-tier dividend of 0.4199 sen per ordinary share, in addition to a special single-tier dividend of 0.4199 sen per ordinary share for FY23, marking a significant increase from the previous fiscal year. The net amount payable for FY23 is RM14.6 million, a substantial rise from RM4.8 million in June 2022.
Looking ahead to FY24, TMC Life Sciences Berhad is well-positioned to capitalise on the increased capacity at THKD, the resurgence of the fertility business, and a promising surge in medical tourism. The organisation remains focused on leveraging growth prospects and opportunities in the region to further enhance its position as a prominent player in the healthcare industry.
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