The deconsolidation of Aoxin last April was partly to blame.
Q&M Dental profits fall by 9.97% YoY to $3.6m in Q3 due to spin-off listing of Aoxin on the SGX-Catalist Board from a subsidiary to an associate.
According to its financial statement, the deconsolidation also negatively affected revenue from its dental equipment and supplies distribution which fell steeply by 55% YoY to $1.89m in Q3.
Similarly, revenue from dental and medical clinics declined by 5% YoY to $27.57m due to Aoxin’s deconsolidation however the impact was offset by revenue contributions from existing and newly opened dental outlets in Singapore and Malaysia.
There was no revenue contribution from dental supplies manufacturing in Q3 as Aidite was similarly deconsolidated in December 2016 to associate.
As of September, Q&M Dental has a total of 72 dental outlets, 4 medical outlets and 1 aesthetic center in operations.
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