Perfect Medical Announces Interim Results for FY2022/23
Perfect Medical Health Management Limited (the "Company" , Stock
Code: 1830.HK), one of the largest aesthetic medical operators in
the world, together with its subsidiaries (collectively referred to
as the "Group"), is pleased to announce its interim results for the
six months ended 30 September 2022.
-- The Group's revenue decreased by 16.6% to HK$668.3 million,
impacted by Covid-19 pandemic causing suspension of 20 days in Hong
Kong, 39 days in Macau, as well a business disruption for an
average of 14 days, 23 days, 63 days and 19 days across Guangzhou,
Shenzhen, Shanghai and Beijing respectively.
-- The second quarter marked a 52.1% growth in revenue
quarter-on-quarter in Hong Kong following the ease of Covid-19
-- The Group's EBITDA decreased by 25.5% to HK$229.7 million.
-- The Group's net profit decreased by 30.4% to HK$150.7 million,
representing the net profit margin of 22.5%. Basic earnings per
share was HK12.1 cents.
-- The Board recommends the payment of an interim dividend of
HK13.0 cents per share, representing a dividend payout ratio of
-- The Group operated a total of 307,000 square feet in Hong Kong,
China, Australia and Singapore, with an addition of three shops in
Hong Kong, Guangzhou and Beijing during the period.
For the period under review, the Group's performance has been
impacted by the slower consumption trend in Hong Kong and the
return of the pandemic in China. The Group's revenue decreased by
16.6% to HK$668.3 million (FY2022 interim: HK$801.6 million). At
EBITDA level, the Group decreased by 25.5% to HK$229.7 million
(FY2022 interim: HK$308.2 million). During the period, the Group
has taken a prudent approach in our business expansion, enhancing
operating efficiency, business mobility and adaptability in the
forefront to better protect the assets and profitability of the
Company. Profit attributable to equity holders of the Company was
HK$150.7 million, dropped 30.4% year-on-year (FY2022 interim:
HK$216.4 million), representing a net profit margin of 22.5% for
the period (FY2022 interim: 27.0%). Basic earnings per share was
HK12.1 cents (FY2022 interim: HK17.7 cents).
As of September 2022, the Group operated a total of 307,000 square
feet in Hong Kong, China and overseas.
Hong Kong Operation
Revenue from Hong Kong operation decreased by 21.5% to HK$492.4
million (FY2022 interim: HK$627.5 million), owing partly to the
suspension of business on 1 April 2022 to 20 April 2022 as well as
the slower recovery in the first quarter when we resumed our
business operation. Following the ease of pandemic, second quarter
in Hong Kong marked a 52.1% growth in revenue
As of 30 September 2022, the Group has a well established network
of service centres in Hong Kong covering a total of 189,000 square
feet. During the period, the Group has opened an additional service
centre in Yuen Long to capture additional demand in the surrounding
With the gradual resumption of business in last few months, we
witnessed a progressive improvement in customer spending and shop
utilisation in the aesthetic medical business. Continual effort
were made through the combination of online and offline marketing
to reach out to existing and new customers.
As for the medical business, our current scope comprises a range of
complementary services including hair growth treatment, pain
treatment, health screening service and others, which allows the
Company to enjoy additional revenue stream from the existing
customers through cross-selling and further reinforces the Group's
image as a one-stop shop for your beauty and medical in Hong
Regions outside Hong Kong
Revenue from regions outside Hong Kong increased by 1.0% to
HK$175.9 million (FY2022 interim: HK$174.1 million), impacted
substantially by the suspension of business in China and Macau but
compensated by the encouraging performance in both Singapore and
Australia. As of 30 September 2022, the Group has an extensive
network in China, Macau, Sydney, Melbourne and Singapore, covering
a gross service area of approximately 118,000 square feet.
For the period under review, our business in China continued to
record decent profit amid the difficult circumstance. Currently,
the Group focuses on the first tier cities including Beijing,
Shanghai, Guangzhou and Shenzhen to maintain superior branding in
the industry. During the period, the Group has opened two shops in
strategic locations in Guangzhou and Beijing to strengthen our
Dr. Au-Yeung Kong, the executive director, chairman and chief
executive officer of Perfect Medical, said that "as a home-grown
enterprise which has been established for more than 19 years, the
Group is confident on the long term prospect of our aesthetic
medical and medical service business model. In future, the Group
will expand both organically and inorganically to offer additional
and complementary services to our customers.
While the pandemic fluctuation is going to be short-term, the
Company will be cautiously expanding our geographical coverage and
replicating our success in mainland China and overseas in the
coming years, taking advantage on our efficient business model.
Looking ahead, the Company will increase the proportion of medical
services and proceed with its international business expansion,
with a view to becoming a truly multinational medical group."
For further information of the Group's FY2022/23 interim results,
please refer to the Company's Interim Results Announcement on the
Hong Kong Stock Exchange website at:
About Perfect Medical Health Management Limited
Perfect Medical Health Management Limited is a multinational
aesthetic medical corporate and one of the largest aesthetic
medical operators in the world 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 307,000
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.
Copyright 2022 JCN Newswire . All rights reserved.