ACE Market-bound Alpha IVF posts 2Q net profit of RM12m

Friday 15 Nov 2024

KUALA LUMPUR (March 19): ACE Market-bound Alpha IVF Group Bhd posted a net profit of RM12.21 million for the second quarter ended Nov 30, 2023 (2QFY2024), on the back of revenue of RM38.54 million.

In a bourse filing on Monday, the company said the revenue was derived mainly from the provision of assisted reproductive services focusing on in-vitro fertilisation (IVF) treatments.

As the company is not yet a public listed entity, there are no comparative figures for the same period in the previous year.

Earnings per share stood at 0.27 sen.

For the cumulative six months ended Nov 30, 2023, Alpha IVF said it posted a net profit of RM25.34 million, on the back of revenue of RM80.14 million.

In a separate statement, Alpha IVF group managing director Datuk Dr Colin Lee Soon Soo said the 2QFY2024 financial performance highlights the group’s ability to ride the wave of medical tourism and growing need for IVF treatments.

“Our positive financial performance, along with our imminent listing and enhanced profile in the public eye, allows us to capitalise on new market opportunities.

“We will continue to put our growth plans in motion, including expanding our business locally and regionally, and simultaneously addressing the burgeoning demand,” he said.

Alpha IVF is scheduled to be listed on the ACE Market on March 22, at an issue price of 32 sen.

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