HC Surgical Specialists’ half-year net income down 2.1%

Blame it on non-operational items.

HC Surgical Specialists Limited has reported a 2.1% drop in its profit attributable to owners, reaching $3.38m in the six months ending 30 November 2024 from $3.45m a year ago.

In a bourse filing, the company attributed the decline to non-operational items, including fair value loss on derivative financial instruments of approximately $430,000, and loss from disposal of an associate of $200,000.

The company’s revenue, meanwhile, grew 3.4% to $9.94m.

HC Surgical Specialists said the fair value loss on DFI was mainly due to derecognition of forward purchase contract for Medistar Services Pte. Ltd. (MDS) upon exercise by the company to acquire an additional 45% equity interest in it.

The loss arising from deemed disposal of an associate was associated to the remeasurement of previously held equity interest in MDS upon the acquisition of additional 45% equity interest in September 2024, resulting in MDS becoming a subsidiary.

The directors are declaring an interim dividend of $0.008 per ordinary share, payable on 13 March.

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