Healthway Medical, an operator of medical centres and clinics in Singapore and Shanghai, said it expected to report a loss for the third quarter citing challenging operating environment and increase in finance costs.
Healthway Medical posted a net loss of S$2.6 million in the second quarter ended June 30 due to higher staff costs, other operating costs as well as higher depreciation costs upon acquisition of Healthway Medical Enterprise.
The announcement is based on a preliminary review of the unaudited management accounts of the group for the third quarter, the company said in a statement released after market hours on Friday.
The company will disclose further details at the time of release of financial results expected around November 14.
As at 30 June 2017, the Group had cash and cash equivalents amounting to S$42.4 million.
Shares in Healthway Medical plunged 4 percent to S$0.05 on the Singapore Exchange. The stock has gained 48 percent so far this year.
