SAM Holdings widens net loss in FY24 on higher finance costs

Loss per share was at $0.0480.

The Singapore Institute of Advanced Medicine (SAM Holdings) reported a net loss of $37.4m in FY24, a 106.6% increase from a net loss of $18.1m in FY23.

It widened losses due to increased finance costs, high depreciation on new proton therapy equipment, and a decline in medical diagnostics revenue amidst strong market competition.

In contrast, the group’s revenue rose by 3% YoY to $16.6m in FY24 driven by growth in radiation therapy and oncology services due to the introduction of its proton beam therapy.

The company's basic and diluted loss per share increased to $0.0480 from $0.0279 in FY23.

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