SMG calls for trading halt pending announcement as share price climbs 4.4%

SINGAPORE (Feb 20): Singapore Medical Group (SMG) at noon on Wednesday called for a trading halt “pending [the] release of [an] announcement”.

Within the first three hours of trading before it requested for the halt, SMG’s share price had climbed 4.4% to 47 cents.

This comes hot on the heels of SMG’s results announcement last evening, when it reported a 52.1% jump in full-year earnings to $12.9 million for the FY18 ended December, compared to FY17 earnings of $8.5 million.

FY18 revenue grew 25.1% to $85.1 million, riven by key specialist verticals such as obstetrics and gynaecology (O&G), paediatrics, diagnostics and aesthetics.

See: Singapore Medical Group reports 17.2% higher 4Q earnings of $2.9 mil on revenue growth

In an accompanying statement, SMG executive director and CEO Beng Teck Liang said the group is exploring opportunities to open a new breast care clinic as well as the possibility of opening a new imaging centre in the West of Singapore.

“We continue to explore accretive value-driven acquisition opportunities that will accelerate our growth and profit trajectory,” he added.