KUALA LUMPUR (Aug 21): Healthcare group TMC Life Sciences Bhd (KL:TMCLIFE) saw its net profit for the fourth financial quarter ended June 30, 2024 (4QFY2024) drop 92.3% to RM1.02 million from RM13.25 million a year ago.

This resulted in lower earnings per share of 0.06 sen for 4QFY2024, compared with 0.76 sen for 4QFY2023.

Quarterly revenue also fell 12.4% to RM74.12 million from RM84.65 million a year earlier.

In a bourse filing on Wednesday, the group said the decline in profit and revenue for 4QFY2024 was related to a combination of reduced patient volume and case intensity, as well as termination of certain customer contracts and discounts given to customers.

The group proposed a final dividend of 0.4898 sen per share and a special dividend of 1.7271 sen per share for FY2024, both payable on Jan 3, 2025.

For FY2024, net profit rose 3.5% to RM40.65 million from RM39.26 million for the previous full year, while revenue increased 11.2% to RM346.42 million from RM311.44 million, attributed to the increased capacity at Thomson Hospital Kota Damansara, a rebound in the fertility business and higher interest income.

On its prospects, TMC said it is looking at international market expansion as a means to diversify its customer base, noting that increased capacity at Thomson Hospital Kota Damansara and a rebound of the fertility business are expected to drive growth.

It also said it is closely monitoring the evolving global economic landscape and interest rate risk, and is committed to adapting its business strategy to mitigate any adverse impact.

Shares in TMC closed down half sen or 0.81% at 61 sen on Wednesday, giving the group a market capitalisation of RM1.06 billion. The stock’s indicative dividend yield is 3.6%.