Catalist-listed HC Surgical Specialists has reported earnings of $8.4 million for the FY2025 ended May 31, 119.4% higher than the $3.9 million posted in FY2024.

Earnings per share (EPS) surged by 117% y-o-y to 5.49 cents, from 2.53 cents previously.

The group’s earnings surge was attributed to higher non-operational items including a fair value gain on derivative financial instruments of around $1.46 million compared to a fair value loss of $0.62 million last year. The higher bottomline was also due to a fair value gain on financial assets at fair value through profit or loss of approximately $0.7 million from $0.17 million last year, as well as lower income tax expense of approximately $21,000 due to over provision of income tax in prior financial years stemming from the tax rebate announced by the government.

In contrast, revenue for the year inched up by 1.6% y-o-y to $19.1 million mainly due to higher contributions from a new subsidiary acquired during the financial year.

However, profit for the period increased by 73.9% y-o-y to $8.8 million due to higher other items of income, lower expenses and share of profits from the group’s associates and joint ventures.

Due to the higher earnings, a higher final dividend of 1.18 cents has been proposed, up from 0.7 cents per share last year. This year’s final dividend brings the group’s total FY2025 dividend to 1.98 cents per share. The record date will be announced at a later date; shareholders will have to approve the final dividend at the group’s upcoming annual general meeting (AGM) in September.

Shares in HC Surgical closed flat at 32 cents on July 29.