Alliance Healthcare Group Limited has issued a profit guidance indicating an expected decline in profits for the financial year ended 30 June 2024 (FY2024). This development has drawn attention from Singapore’s healthcare and investment sectors.
The company, which operates in the healthcare industry, anticipates lower profits compared to the previous financial year ended 30 June 2023.
According to the profit guidance, the primary factors contributing to the decline include:
- Operating expenses from a newly established medical centre
- Costs associated with a new medical aesthetic clinic
- Losses incurred in the nascent mobile and digital health segment
The company emphasises that these new ventures are still in the early stages of operation and growth. It will take some time for them to become profitable.
Alliance Healthcare’s move into mobile and digital health aligns with Singapore’s Smart Nation initiatives and the growing emphasis on telemedicine and digital health solutions. However, the profit guidance underscores the financial hurdles companies may face during such transitions.
The Group is currently in the process of finalising its unaudited financial results for FY2024. Investors and industry watchers will be keenly awaiting the detailed report for a clearer picture of the company’s financial health and future prospects.