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Monday, 4 July 2022, 13:13 HKT/SGT
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Perfect Medical Announces Final Results for FY2021/22
Revenue increased 23.9% to a record high of HK$1.35 billion despite the Omicron outbreak
Total service area expands by 39.0% to 322,000 square feet
Net profit maintains steady growth of 7.2% to HK$305.2 million

HONG KONG, July 4, 2022 - (ACN Newswire) - Perfect Medical Health Management Limited ("Perfect Medical" or the "Company", stock code: 1830.HK), one of the largest medical groups in Hong Kong, together with its subsidiaries (collectively referred to as the "Group"), is pleased to announce its annual results for the year ended 31 March 2022.

Performance highlights
-- The Company achieved a historical high revenue of HK$1.35 billion, representing a growth of 23.9%.
-- Among the value of sales contract, aesthetic medical accounted for 66.0%, medical business accounted for 17.4% and beauty and wellness accounted for 16.6%.
-- The Company achieved a satisfactory net profit of HK$305.2 million despite the impact of the pandemic. If excluding the government subsidies, the revised net profit after tax increased by 29.8%.
-- The Company has expanded its geographical coverage to Hong Kong, China, Australia and Singapore, representing total service area increased by 39.0% to 322,000 sq.ft..
-- Basic earnings per share increased by 2.1% to HK24.8 cents.
-- To reward the shareholders' unwavering support, the Board recommended the payment of a final dividend of HK7.1 cents per share. Together with the interim dividend of HK17.7 cents per share, the total dividend per share is expected to be HK24.8 cents per share for the full year, representing a total dividend payout ratio of 100.0%.

For the year under review, the Group's revenue increased by 23.9% to HK$1,350.0 million (FY2021: HK$1,089.8 million). The Group's EBITDA increased by 11.5% to HK$469.5 million (FY2021: HK$421.0 million). Profit attributable to shareholders of the Company was HK$305.2 million (FY2021: HK$284.6 million), representing a year-on-year increase of 7.2%, and a net profit margin of 22.6% (FY2021: 26.1%).

During the year, the Group has geared up its service centre expansion pace in Hong Kong, China and overseas. Currently, the Group has expanded its penetration in strategic locations at office premises and shopping malls, with total GFA increasing by 39% to 322,000 square feet.

Hong Kong Operation

Revenue from Hong Kong Operation increased by 43.6% to HK$975.1 million (FY2021: HK$679.0 million), mainly attributable to revenue contribution in the aesthetic medical and medical businesses as well as the additional revenue contributed from the new service centres established in the past years, but offset by the closure of all service centres for 84 days since January 2022 owing to the Omicron outbreak. Currently, the Group has a well established network of service centres in Hong Kong covering a total of 198,000 square feet.

The Company is mainly engaged in the operation of aesthetic medical and medical service in Hong Kong. From September to November 2021, the Company opened three service centres in Tsim Sha Tsui, Shatin and Central to consolidate its leading position in Hong Kong medical market.

In terms of the medical service business, leveraging on the strong foundation in the aesthetic medical business in Hong Kong, the Group has consistently reviewed its service portfolio through providing additional value-added services to enhance the customers' stickiness. In addition, the Group has made subsequent investments in a range of medical services to boost cross-selling and lower the acquisition cost of the customers.

Regions outside Hong Kong

Revenue from regions outside Hong Kong decreased by 8.8% to HK$374.8 million (FY2021: HK$410.8 million) due to the poor market sentiment and the continual lockdown under the pandemic. As of 31 March 2022, the Company has an extensive network in China, Macau, Sydney, Melbourne and Singapore, covering a gross service area of 124,000 square feet.

As one of the pioneers in the aesthetic medical industry in China, the Group has been focusing on key coastal first tier cities in Southern and Eastern China as well as the country's capital in Beijing, in order to cultivate a premium branding image. With the escalating customers' demand on a more all-round and professional medical services, the Group hopes to foster a stronger operation loop and a synergy to better serve our customers.

Prospects

Dr. Au-Yeung Kong, the executive director, chairman and chief executive officer of Perfect Medical, said that "This year marks the 11th anniversary of the Company's listing on the Stock Exchange of Hong Kong Limited since 10 February 2012. Our business covers Hong Kong, China, Macau, Australia and Singapore. At present, the Company has built a one-stop service platform incorporating a comprehensive aesthetic medical and medical services, fully catered to customers' needs.

With the weakening of the impact of the pandemic, the Company is well positioned to capitalize on the market opportunities and respond to the rebound of customers' demand in the post-pandemic era. In the future, the Company will gear up its effort organically, actively seek mergers and acquisitions of medical projects, and make optimisation and integration to offer additional high-quality services to our customers.

Looking ahead, the Company will increase the proportion of medical services and proceed with the international business expansion, with a view to becoming a truly multinational medical group.

For further information on the Group's FY2021/22 annual results, please refer to the Company's annual results announcement on the website of the Hong Kong Stock Exchange.

https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0630/2022063000866.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 companies in Hong Kong 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 322,000 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 Sectors: Healthcare & Pharm
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