Q & M Dental Singapore : Financial Statement (469 KB)

Q & M Dental Group (Singapore) Limited

(Incorporated in the Republic of Singapore)

(Company Registration No: 200800507R)

Condensed Financial Statement Announcement For The Second Quarter Ended 30 June 2022 ("2Q22")

1(a) Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income

					Group
		Second Quarter			Year-To-Date
		Q2 2022	Q2 2021	Change		30/06/2022		30/06/2021	Change
Revenue	Note	$'000	$'000	%		$'000		$'000	%
	39,914	38,095			78,496		77,296
Dental and Medical Clinics		5			2
Medical Laboratory and Dental Equipment &		4,214	12,714	(67)		12,414		17,275	(28)
Supplies
Total Revenue	3	44,128	50,809	(13)		90,910		94,571	(4)
Other Items of Income		9	2			9		3
Interest Income		NM			NM
Other Items of Expense
Consumables and Supplies Used in Dental & Medical		(3,482)	(3,409)			(6,651)		(6,904)
Clinics		2			(4)
Cost of Sales - Medical Laboratory and Dental		(2,602)	(3,956)			(6,084)		(6,079)
Equipment & Supplies		(34)			0
Employee Benefits Expense		(26,006)	(23,592)	10		(50,358)		(48,461)	4
Depreciation and Amortisation Expense		(1,147)	(1,024)	12		(2,305)		(1,921)	20
Depreciation of Right-Of-Use Assets		(2,925)	(2,184)	34		(5,979)		(4,914)	22
Other Expenses		(2,582)	(2,839)	(9)		(5,399)		(5,254)	3
Finance Costs	5	(805)	(776)	4		(1,531)		(1,564)	(2)
Other (Losses) Gains - Net	4	(21)	(217)	(90)		(47)		4,038	NM
Share of Loss from Equity-Accounted Associate		(417)	(181)	NM		(500)		(421)	19
Profit Before Tax from Continuing Operations		4,150	12,633	(67)		12,065		23,094	(48)
Income Tax Expense	6	(819)	(1,207)	(32)		(1,524)		(1,617)	(6)
Profit From Continuing Operations, Net of Tax		3,331	11,426	(71)		10,541		21,477	(51)
Other Comprehensive (Loss) Income:
Exchange Differences on Translating Foreign		(616)	401			(674)		589
Operations, Net of Tax		NM			NM
Other Comprehensive Income for the Period, Net
of Tax		(616)	401	NM		(674)		589	NM
Total Comprehensive Income for the Period		2,715	11,827	(77)		9,867		22,066	(55)
Profit Attributable to:		3,387	8,383			9,849		17,794
Owners of the Parent, Net of Tax		(60)			(45)
Non-Controlling Interests, Net of Tax		(56)	3,043	NM		692		3,683	(81)
Profit, Net of Tax		3,331	11,426	(71)		10,541		21,477	(51)
Total Comprehensive Income (Losses)
Attributable to:		2,794	8,786			9,203		18,396
Owners of the Parent		(68)			(50)
Non-Controlling Interests		(79)	3,041	NM		664		3,670	(82)
Total Comprehensive Income		2,715	11,827	(77)		9,867		22,066	(55)
NM: Not Meaningful

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Q & M Dental Group (Singapore) Limited

(Incorporated in the Republic of Singapore)

(Company Registration No: 200800507R)

						Group
		Second Quarter			Year-To-Date
		Q2 2022	Q2 2021	Change		30/06/2022	30/06/2021	Change
	Note	$'000	$'000		%		$'000	$'000	%
EBITDA		9,018	16,615		(46)		21,871	31,490	(31)
Earnings Per Share
Based on the Weighted Average Number of Ordinary(a)		0.36	0.89				1.05	1.88
Shares on Issue - Cents
Fully Diluted Basis - Cents		0.36	0.89				1.05	1.88

1. The basic EPS for the period ended 30 June 2022 and 30 June 2021 are based on the profit attributable to equity holders of parent, net of tax and weighted average number of ordinary shares of 939,442,940 and 944,770,340 shares respectively.

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Q & M Dental Group (Singapore) Limited

(Incorporated in the Republic of Singapore)

(Company Registration No: 200800507R)

1(b) Condensed Interim Statements of Financial Position

		Group	Company
		As at		As at
	Note	30/06/2022		31/12/2021	30/06/2022		31/12/2021
ASSETS	$'000		$'000	$'000		$'000
Non-Current Assets
Property, Plant and Equipment	8	36,181		32,604	942		918
Right-Of-Use Assets		50,738		51,716	1,187		1,295
Investment in Subsidiaries		-		-	62,043		61,943
Investment in Associates	9	26,127		27,044	33,383		33,383
Goodwill	10	56,591		56,597	-		-
Other Intangible Assets	11	3,950		3,580	-		-
Other Receivables		2,165		2,401	1,970		2,068
Other Assets		7,112		7,080	4,011		3,777
Total Non-Current Assets
	182,864		181,022	103,536		103,384
Current Assets
Inventories		15,808		15,892	-		-
Trade and Other Receivables		24,096		27,823	78,735		89,739
Other Assets		3,753		3,833	1,296		1,494
Cash and Cash Equivalents		35,248		47,611	2,567		2,661
Total Current Assets
	78,905		95,159	82,598		93,894
Total Assets		261,769		276,181	186,134		197,278
EQUITY AND LIABILITIES
Equity Attributable to Owners of the Parent
Share Capital	12	86,758		86,758	86,758		86,758
Treasury Shares	12	(13,950)		(13,950)	(13,950)		(13,950)
Retained Earnings		22,703		26,006	3,952		11,961
Other Reserves, Total		(1,611)		(965)	-		-
Equity Attributable to Owners of the Parent, Total		93,900		97,849	76,760		84,769
Non-Controlling Interests		5,949		5,397	-		-
Total Equity		99,849		103,246	76,760		84,769
Non-Current Liabilities
Provisions		776		776	-		-
Deferred Tax Liabilities		2,383		2,393	-		-
Lease Liabilities Arising from Right-Of-Use Assets		44,248		44,296	1,027		1,131
Other Financial Liabilities	13	85,169		80,176	81,216		78,408
Total Non-Current Liabilities
	132,576		127,641	82,243		79,539
Current Liabilities
Income Tax Payable		3,716		5,595	-		-
Trade and Other Payables		15,725		26,239	26,661		29,536
Lease Liabilities Arising from Right-Of-Use Assets		9,349		9,908	189		189
Other Financial Liabilities	13	554		3,552	281		3,245
Total Current Liabilities
	29,344		45,294	27,131		32,970
Total Liabilities		161,920		172,935	109,374		112,509
Total Equity and Liabilities		261,769		276,181	186,134		197,278
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Q & M Dental Group (Singapore) Limited

(Incorporated in the Republic of Singapore)

(Company Registration No: 200800507R)

1(c) Condensed Interim Consolidated Statement of Cash Flows

Cash Flows From Operating Activities

Profit Before Tax

Adjustments for: Interest Income Interest Expense

Gain on Disposal of Plant and Equipment Plant and Equipment Written Off

Share of Loss from Equity - Associated Associates Gain on Disposal of interest in Associates

Depreciation of Property, Plant and Equipment and Amortisation Expense

Depreciation of Right-Of-Use Assets

Foreign Currency Translation Reserve

Provision

Operating Cash Flows Before Changes in Working Capital

Inventories

Trade and Other Receivables

Other non-financial assets

Trade and Other Payables

Net Cash Flows From Operating Activities Before Interest and Tax Income Taxes Paid

Net Cash Flows From Operating Activities

Cash Flows (Used in) From Investing ActivitiesPurchase of Property Plant and Equipment Purchase of Intangible Assets

Disposal of Plant and Equipment Other non-financial assets Trade and Other Receivables Increase in Investment in Associate

Proceeds from Disposal of associate, Net of Tax and Redemption of Preference Shares

Other Receivables, Non-Current

Interest Received

Net Cash Flows (Used in) From Investing Activities

Cash Flows Used in Financing Activities

Lease Liabilities - Principal Portion Paid

Lease Liabilities - Interest Paid

Finance Lease Repayment

Proceeds from Finance Lease

Repayment of Bank Loans

Proceeds from Term Loan

Bill Payables

Interest Paid

Dividends Paid to Non-Controlling Interest*

Dividends Paid to Equity Owners

Net Cash Flows Used In Financing Activities

Group

Second Quarter	Year-To-Date
Q2 2022	Q2 2021	30/06/2022	30/06/2021
$'000	$'000	$'000	$'000
4,150	12,633	12,065	23,094
(9)	(2)	(9)	(3)
805	776	1,531	1,564
(24)	(5)	(24)	(5)
14	69	33	69
417	181	500	421
-	-	-	(4,373)
1,147	1,024	2,305	1,921
2,925	2,184	5,979	4,914
(152)	31	(159)	47
-	(93)	-	(108)
9,273	16,798	22,221	27,541
147	(1,312)	84	(1,106)
(102)	(10,778)	4,176	(14,581)
(242)	326	(68)	(202)
(3,148)	801	(5,615)	1,230
5,928	5,835	20,798	12,882
(3,260)	(1,157)	(3,409)	(1,995)
2,668	4,678	17,389	10,887
(4,631)	(1,348)	(5,901)	(2,449)
(394)	(267)	(603)	(550)
51	59	148	62
(321)	135	116	(441)
(63)	418	(449)	375
-	(36)	-	(420)
-	17,002	-	17,002
70	6	236	15
9	2	9	3
(5,279)	15,971	(6,444)	13,597
(2,854)	(2,010)	(5,608)	(4,524)
(436)	(411)	(876)	(822)
(6)	(5)	(23)	(9)
-	-	-	75
(127)	(1,281)	(222)	(1,304)
2,400	-	2,400	10,000
(394)	(372)	(160)	(563)
(369)	(365)	(655)	(742)
(112)	-	(5,012)	-
(3,758)	(11,809)	(13,152)	(31,492)
(5,656)	(16,253)	(23,308)	(29,381)

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Q & M Dental Group (Singapore) Limited

(Incorporated in the Republic of Singapore)

(Company Registration No: 200800507R)

			Group
	Second Quarter		Year-To-Date
	Q2 2022	Q2 2021		30/06/2022	30/06/2022
	$'000	$'000		$'000	$'000
Net (Decrease) Increase in Cash and Cash Equivalents	(8,267)	4,396		(12,363)	(4,897)
Cash and Cash Equivalents, Statement of Cash Flows, Beginning
Balance of the Period	43,515	39,479		47,611	48,772
Cash and Cash Equivalents, Statement of Cash Flows, Ending
Balance of the Period	35,248	43,875		35,248	43,875
Cash and Cash Equivalents at End of Period includes the
following:
Cash and Bank Balances	35,248	43,875		35,248	43,875
Cash and Cash Equivalents at End of Period	35,248	43,875		35,248	43,875

• Mainly the payment of accrued dividends to Aoxin Q&M, an associate of the Group and the 49% owner of Acumen Diagnostics Pte. Ltd. of which the Group has 51% ownership.

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