Town Health International Medical (3886) swung to a profit of HK$14.4 million last year, turning the tables on a loss of HK$203.7 million from the year prior.
It declared a final dividend of 0.18 HK cents per share, up 50 percent from a year ago.
The company attributed the profit improvement to reductions in fair value losses on investment properties, impairment losses on interests in associates and goodwill, as well as its share of losses from associates.
If the gains and losses incurred outside its ordinary course of business are excluded, the company would have recorded an operating profit attributable to owners of the company of HK$37.1 million, representing a growth of 46.2 percent.
Revenue inched down 2.63 percent year-on-year to HK$1.79 billion.
Chairman and chief executive Karson Choi Ka-tsan said in the annual result announcement that Town Health maintains a competitive edge amid industry consolidation and intensifying market competition, benefiting from its healthcare service network throughout Hong Kong, mature operational management system, and solid customer base.
In the long run, the acceleration in population ageing, the prevalence of chronic diseases, and rising health awareness of citizens will continue to drive demand for primary care, specialty treatment, health management, and rehabilitation services, which is conducive to the group's business development in both Hong Kong and the Chinese mainland, he added.
Choi noted that on the premise of prudent risk management, Town Health will seize the opportunities brought by the upgrading and transformation of healthcare services and regional synergistic development to consolidate its core competitive advantages and drive steady business expansion, striving to achieve sustainable and high-quality long-term development.
In Hong Kong, the group will continue to review and improve the layout of its healthcare service network, and prudently establish more integrated medical centres with multiple consultation rooms in densely populated and easily accessible locations, to strengthen economies of scale and community coverage.
Looking ahead to the second quarter this year, Town Health will establish the "Town Health Integrated Medical Centre" in North Point, further strengthening the group's medical network coverage on Hong Kong Island.
