Hong Kong's UMP Healthcare FY loss widens on uneven corporate spending

Overview

• Hong Kong healthcare services provider's fiscal yr revenue fell 1.4% yr/yr

• Net loss attributable to owners widened to HK$74.6 mln from prior yr profit

• Company's performance impacted by uneven corporate spending and clinic rationalisation

Outlook

• Company did not provide specific financial guidance for the current or upcoming year

Result Drivers

• CORPORATE SPENDING - Co said uneven corporate spending sentiment in Hong Kong, Macau and Chinese Mainland weighed on performance

• CLINIC RATIONALISATION - Co said clinic rationalisation and rebranding in Hong Kong affected segment performance

• FOSHAN START-UP COSTS - Adjusted EBITDA fell 21% to HK$75.2 mln as the new Foshan integrated healthcare centre incurred start-up and ramp-up costs

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)