Optimax sees clear path to stronger performance

PETALING JAYA: Eye-care specialist Optimax Holdings Bhd expects the outlook for the healthcare sector to remain robust, driven by an increase in demand and awareness from both local and foreign patients who are more health conscious.

For the fourth quarter ended Dec 31, 2023 (4Q23), the eye specialist’s net profit eased by 17% year-on-year (y-o-y) to RM3.2mil or earnings per share of 0.59 sen.

This was mainly due to an increase in operating costs as additional staff (doctors, nurse, optometrist and supporting staff) were hired in advance for the upcoming expansion of new ambulatory care centres and satellite clinics/centres at a new location.

Revenue in 4Q23 however increased by 11% y-o-y to RM31.4mil underpinned by effective marketing efforts through ongoing promotions via online platforms and contributions from newly set up satellite clinics/centres.

For the financial year ended Dec 31, 2023, Optimax’s net profit declined by 12% y-o-y to RM12.9mil despite revenue rising by 5% y-o-y to RM113.95mil.

In a filing with Bursa Malaysia, the group said it will continue to optimise its operational costs and seek strategic locations across Malaysia to set up more ambulatory care centres/satellite clinics to support its growth.

The company has expanded to provide a full spectrum of eye care treatments including cataract, glaucoma, dry eyes and others in its 13 eye specialist centres in Malaysia.

Optimax chief executive officer Sandy Tan said the company has plans to open more outlets both locally and beyond the Malaysian market to meet the increasing demand for eye healthcare.

She added its Cambodia care centre is nearing completion and the company is optimistic the initiatives will fuel the group’s growth in the future.

“We are undoubtedly pleased to have achieved all-time high quarterly revenue. This growth mirrors the increasing awareness about eye healthcare in our society.

“In addition, there is a notable surge in acceptance of refractive surgery, mainly due to advancements in eye-related surgical instruments, resulting in shorter surgical times and recovery periods.

“We will therefore consistently invest in the latest technologies to provide patients with better options,” she said in a statement on the company’s financial results yesterday.

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