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OUE Healthcare's Patmi surges 83% in FY2023, but no dividend declared because of cash flow needs

The Edge Singapore
·1-min read

OUE Healthcare's Patmi rises 83% y-o-y; no dividend declared due to cash flow needs

OUE Healthcare announced that net attributable profit to shareholders rose by 83% y-o-y in FY2023 to $8.05 million. Most of the gain was recorded in 2HFY2023 with a Patmi of $6.24 million, compared to a net loss in 2HFY2022.

The company has four divisions, healthcare operations of hospitals, clinics and the supply of medical and pharmaceutical products; healthcare operations in Singapore through the acquisition of the O2 Group in June 2022; healthcare assets from rental income, and the consolidation of First REIT. OUE LJ3 Healthcare also owns Healthway Medical Corp 5ng.

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As a result its investment properties declined to $1.139 billion in FY2023 from $1.145 billion in FY2022 because of currency movements. First REIT owns hospitals in Indonesia and nursing homes in Japan.

The company says it is not declaring a dividend for FY2023 taking into considerations its cash flow requirements. 

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