MedFirst Healthcare Services Inc (杏一), which operates healthcare supplies stores with medical consultation services, reported on Monday that its earnings rose 25 percent last quarter from a quarter earlier because of lower losses at shops that opened this year.
Net profit increased to NT$22.98 million (US$753,306) from NT$18.67 million the previous quarter, but were 4.01 percent lower than the NT$23.94 million recorded a year ago, the company’s stock exchange filing showed.
MedFirst, the nation’s largest medical store operator, opened 10 shops this year, raising its number of shops to 179.
These new locations helped revenue rise to NT$920.57 million last quarter, up 2.49 percent from NT$898.25 million the previous quarter and up 11.43 percent from NT$826.15 million a year earlier, it said.
This quarter, MedFirst is to open three shops in China and one shopping center in Beijing Tsinghua Chang Gung Hospital. The company has seven shops in China now: four in Shanghai, two in Nanjing and one in Xiamen.
Although the company’s shops in China were in the red for the past three quarters, losses declined 51 percent from a year ago, it said.
In addition, its operating expenditure slid to 28.05 percent of its revenue last quarter, from 28.29 percent the previous quarter and 28.77 percent in the first quarter.
MedFirst registered losses of NT$15 million for its Chinese operations last year. However, in addition to opening new shops, the firm is evaluating the possibility to partner with or take over Chinese firms for expansion in China.
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