- Q&M Dental (SGX:QC7) reported revenue of S$180.7mil for FY24, a 1.1% decline y-o-y, compared to S$182.7mil in FY23, mainly due to the cessation of the Group’s medical laboratory business. PATMI rose by 27.1% y-o-y to S$14.6mil in FY24, compared with S$11.5mil in FY23.
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- For the Group’s business segment, dental business revenue grew marginally to S$173.8mil in FY24, up from S$173.0mil in FY23, supported by higher contributions from its Malaysia operations. On the other hand, revenue from other businesses declined primarily due to the cessation of the Group’s medical laboratory business in September 2024.
Closure of Medical Laboratory Business to Optimize Costs.
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- Its closure resulted in higher other losses due to impairments of goodwill, plant and equipment, and inventories following the expiry of its clinical laboratory service license. As a result, total other losses in FY2024 rose by 60% (S$1.7 million) to S$4.7 million. However, this move is expected to streamline operations and improve profitability going forward.
Talent Acquisition and Education Expansion.
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