ISEC Healthcare Ltd posted a net profit of S$3.89 million for the quarter ended Sept 30, down 9 per cent year-on-year, as higher operating costs and weaker foreign-exchange gains offset stronger topline growth driven by increased patient traffic in Malaysia.

Revenue rose 9 per cent to S$20.69 million, lifted by the specialised health services segment, which continued to benefit from higher case volumes across the group’s eye centres. Profit before tax slipped 4 per cent to S$5.15 million, while the group’s gross profit margin inched up to 43.9 per cent from 42.8 per cent a year earlier.

Administrative expenses expanded 8 per cent to S$3.76 million, reflecting new and enlarged centres in Malaysia and higher staff-related costs. Other income fell sharply to S$0.12 million from S$1.01 million, mainly because the year-ago quarter booked a S$0.82 million foreign-exchange gain that did not recur. Finance costs increased 33 per cent to S$0.19 million following additional bank borrowings to fund ongoing expansion projects.

For the first nine months of 2025, revenue climbed 8 per cent to S$58.51 million and net profit slipped 2 per cent to S$10.76 million. The group generated S$13.34 million in operating cash flow and ended the period with cash and cash equivalents of S$19.55 million, up from S$15.91 million at end-2024.

Looking ahead, the company said construction of its new Kuala Lumpur flagship – a strata-title acquisition announced in December 2023 – remains on schedule and is expected to be operational by 2027 after renovation, fit-out and regulatory approvals. The bank disbursed a fifth loan tranche of RM4.29 million (about S$1.23 million) in October to fund progress payments.

ISEC is also in discussions to renew the employment terms of Executive Vice-Chairman Dr Lee Hung Ming; his contract has been extended until Dec 31. The group noted that its Myanmar centre “continues to be operational and profitable” despite political uncertainty, and it will keep evaluating opportunities in Vietnam and other regional markets while strengthening its core operations in Singapore and Malaysia.