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| A resilient growth in revenue and net profit under the challenging operating environment |
HONG KONG, June 28, 2023 - (ACN Newswire) - Perfect Medical Health Management Limited (the "Company", Stock Code: 1830.HK), one of the largest aesthetic medical operators in the world, together with its subsidiaries (collectively referred to as the "Group"), is pleased to announce its annual results for the year ended 31 March 2023.
RESULTS HIGHLIGHTS
-- The Group's revenue increased by 2.9% to HK$1,389.3 million, thanks to the better performance in recent months after the gradual relaxation of all social distancing measures in Hong Kong.
-- The Group's EBITDA increased by 2.7% to HK$482.3 million.
-- The Group's net profit increased by 3.4% to HK$315.6 million, representing the net profit margin of 22.7%. Basic earnings per share was HK25.3 cents.
-- The Board recommends the payment of a final dividend and special dividend of HK12.3 cents per share and HK4.7 cents per share respectively. Together with the interim dividend of HK13.0 cents, the total dividend payout ratio is expected to be 118.6%.
-- The Group operated a total of 294,000 square feet in Hong Kong, China, Australia and Singapore, with an addition of four shops in Hong Kong, Guangzhou, Shanghai and Beijing during the year.
For the year under review, the Group has recorded a year-on-year increase in both revenue and net profit, completely turnaround from the lackluster performance in the first half year under the pandemic. The Group's revenue increased by 2.9% to HK$1,389.3 million (FY2022: HK$1,350.0 million). At EBITDA level, the Group increased by 2.7% to HK$482.3 million (FY2022: HK$469.5 million). During the year, the Group has taken a prudent approach in our business expansion to better respond to the dynamic operating environment and to create shareholder value. Profit attributable to equity holders of the Company was HK$315.6 million, increased by 3.4% year-on-year (FY2022: HK$305.2 million), representing a net profit margin of 22.7% for the year (FY2022: 22.6%). Basic earnings per share was HK25.3 cents (FY2022: HK24.8 cents).
As at 31 March 2023, the Group operated a total of 294,000 square feet in Hong Kong, China and overseas.
Hong Kong Operation
Revenue from Hong Kong operation increased by 6.7% to HK$1,040.1 million (FY2022: HK$975.1 million), significantly rebound from a 21.5% decrease in the first half year, thanks to the pick up in shop traffic and utilization, compensated the business suspension of 20 days in April 2022 and the slow recovery in the first half year.
As at 31 March 2023, the Group has a well established network of service centres in Hong Kong covering a total of 189,000 square feet. During the year, the Group has opened an additional service centre in Yuen Long to capture additional demand in the surrounding areas.
In the past three years, the Group has been a fast mover in Hong Kong with our service area increasing substantially from 125,000 square feet in March 2020 to 189,000 square feet in March 2023. During the year, we observed a progressive improvement in shop traffic and utilization and a gradual return of new customers in Hong Kong.
As for the medical business, our offering comprises a range of complementary services including hair growth treatment, pain treatment, health screening service and others, to fully collaborate with our aesthetic medical services to form a full range of care towards a customers' lifecycle.
Regions outside Hong Kong
Revenue from regions outside Hong Kong decreased by 6.9% to HK$349.2 million (FY2022: HK$374.9 million), owing to the loss in revenue in mainland China but helped by the promising results in both Australia and Singapore. As at 31 March 2023, the Group has an extensive network in China, Macau, Sydney, Melbourne and Singapore, covering a gross service area of approximately 105,000 square feet.
For the year under review, our business in mainland China recorded a healthy profit throughout the whole year, demonstrating our time-proven business model and long history of establishment in China. In FY2023, the Group has opened three shops in strategic locations in Guangzhou, Shanghai and Beijing to strengthen our presence. With much similarities between Hong Kong and Singapore market, our performance has been outstanding in Singapore since its establishment in July 2021.
Prospects
Dr. Au-Yeung Kong, the executive director, chairman and chief executive officer of Perfect Medical, said that "the business environment is expected to be less volatile after the cessation of social distancing measures in Hong Kong and mainland China. In the post-pandemic era, we remained steadfast in our core strategy of "Healthcare + Medical Beauty" to satisfy the individual needs of the consumers.
Having operated for more than two decades in Hong Kong and elsewhere, it's our dedication to become a global aesthetic medical and healthcare operator in the coming future. We expect the normalization would create a room of opportunities in the consumer market.
In the Greater Bay Area and the Eastern China, we will increase our penetration gradually in order to lay a strong foundation for further expansion. As for the international expansion, efforts would be made to further penetrate into existing and new regions in the long run."
For further information of the Group's FY2022/23 annual results, please refer to the Company's Annual Results Announcement on the Hong Kong Stock Exchange website at: https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0628/2023062800337.pdf
About Perfect Medical Health Management Limited
Perfect Medical Health Management Limited is a multinational aesthetic medical corporate and one of the largest aesthetic medical operators in the world established in 2003. The Group focuses primarily on non-invasive aesthetic medical services and medical services in Hong Kong, China, Macau, Australia and Singapore with a total service area spanning approximately 294,000 square feet. Our operation offers a broad spectrum of professional services with assurance of utmost safety and efficacy. The Company was included as a constituent stock of the MSCI Hong Kong Small Cap Index on 27 May 2021, demonstrating the confidence from the capital market and recognising the investment value of the Company.
Topic: Press release summary
Source: Perfect Medical Health Management Limited
Sectors: Healthcare & Pharm
http://www.acnnewswire.com
From the Asia Corporate News Network
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