The decline is partly due to lower requests for fertility and delivery services.
However, revenue increased by 2.4% YoY to $7.7m due to contributions from the $0.1m increase in revenue cancer-related and dermatology segments. The contribution from the new clinic, SOG Children (Paediatrics-East) Clinic (PAED Clinic) which began operations last July was able to offset the decrease of $0.1m in its obstetrics and gynecology segment.
According to Rachel Tan of DBS Equity Research, the medical group is forecasted to show a stronger 14-16 % growth from contributions from its cancer and pediatrics divisions, newly built fertility division, and dermatology segments.
Tan added that SOG could stand to gain if it goes active in the M&A space once again.
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