Singapore-based Cordlife Group, a healthcare company which provides cord blood and cord lining banking services, has reported profits of S$7.6 million (US$5.3 million) for the first quarter of 2016. This is a turnaround after the S$3.6 million loss on the same period last year. At the same time, revenues were up 9.7% to S$14.5 million.
The return to profitability is thanks to an increase in the number of client deliveries from approximately 5,100 in the same period last year to 5,300 during this reporting period.
“We continue to widen our presence in Asia… The cord blood banking operations in these markets are developing rapidly, thanks to the fast-rising middle class seeking better healthcare options for their children. In the most recent quarter, we expanded our reach into more cities in Indonesia and the Philippines,” said Cordlife CEO Jeremy Yee.
He also noted that “In Singapore, we anticipate that our operations will benefit from an increasing birth rate, driven by favourable government policies”.
Cordlife Group is seeking to increase its presence in Malaysia’s healthcare sector by offering to purchase shares of associated firm StemLife Berhad, which is Malaysia’s first integrated homegrown cord blood and adult stem cell banking and therapeutics company with a deal valued at S$24.4 million.
With the profit raising profile, Cordlife Group currently seeking operation expansion in foreign market. From the February, ART position trade captured uptrend from the price from S$0.9 to S$1.18 with the 28% growth (Dividend excluded). The share price nonetheless suffered from the global market correction between June and August which recognized by our system which showing sell or short position in red. After August Cordlife Group continue turn blue.Year to date, Cordlife is one of the best performer in Singapore stock market. The current stock support level is at S$1.285.
Do you wish to improve your investment skill? Please do not hesitate to register by clicking
Free Seat for Investment Seminar
Do you wish to improve your investment skill? Please do not hesitate to register by clicking
Free Seat for Investment Seminar
cited:http://www.healthinvestorasia.com/(X(1)A(dQ5q-61W0QEkAAAAZDA0ZDc2MTEtNWI4NS00OTM0LWJhN2YtNzZlNzg5ODMxMTRiDJHtz4xQGXC8YaYd5-sLtelMM7g1))/ShowArticle.aspx?ID=1018
