Livingstone Health Reports 5.9% Revenue Growth and Streamlined Operations in FY2026 Financial Results

Livingstone Health FY2026 Financial Results: Higher Revenues, Strategic Rationalisation, and Growth Initiatives

Key Highlights from FY2026 Financial Report

Revenue Growth: Livingstone Health Holdings Limited (“Livingstone Health”) reported revenues of S\$29.3 million for the financial year ended 31 March 2026 (FY2026), representing a 5.9% increase from S\$27.6 million in FY2025. This marks the second consecutive year of revenue growth, underscoring the Group’s consistent upward trajectory.
Profitability: Despite higher revenues, the Group’s Profit attributable to Owners of the Company (“Net Profit”) declined sharply by 60% to S\$223,000 in FY2026 (from S\$557,000 in FY2025). The lower net profit was primarily attributed to losses and non-recurring expenses arising from the closure of the underperforming Ardennes health screening centre.
Adjusted Net Profit (Ex-Ardennes): Excluding the losses and non-recurring expenses related to Ardennes, the Adjusted Net Profit stood at S\$608,000, reflecting the underlying profitability of the continuing operations.
Cash Flow: The Group generated robust net operating cash flows of S\$3.1 million, supported by improved working capital management.
Financial Position: As at 31 March 2026, the Group reported net assets of S\$6.9 million and cash and cash equivalents of S\$2.4 million, indicating a healthy balance sheet.

Strategic and Operational Developments

Operational Rationalisation: The Group took decisive action to close the underperforming Ardennes health screening centre, a move aimed at optimising the healthcare network and improving operational efficiency. This strategic exit led to non-recurring costs such as reinstatement charges, write-offs, and losses on disposal of medical assets, which impacted net profits.
Investments in Growth: Livingstone Health invested in new specialist and general surgery clinics, specifically an endocrinology specialist clinic (April 2025) and a colorectal and general surgery clinic (December 2025). In March 2026, the Group acquired an additional primary care clinic, further expanding its Primary Medical Group (PMG) network.
Talent Retention and Expansion: The company emphasised ongoing investments in retaining and expanding its team of medical doctors and healthcare professionals, which have been instrumental in sustaining revenue growth despite rising operating costs.
Cross-Referral Ecosystem: These investments are intended to enhance Livingstone Health’s healthcare ecosystem, increase patient outreach, and deepen cross-referral networks between its various medical disciplines.

Financial Flexibility and Banking Facilities

Increased Banking Facilities: During FY2026, Livingstone Health secured new term loan facilities from two regional banks, amounting to S\$4.0 million. This brings the total available banking facilities to S\$7.0 million, which strengthens the Group’s financial flexibility to support potential acquisitions and working capital needs.

Business Outlook and Risks

Cautious Outlook: The Group remains cautious about the business environment, citing ongoing geopolitical tensions and inflationary pressures that have led to rising costs. These external risks could impact earnings and profitability in the coming periods.

Shareholder Considerations & Price-Sensitive Issues

Closure of Ardennes Centre: The closure of an underperforming centre, while leading to one-off losses, signals management’s commitment to rationalising the portfolio and focusing resources on profitable, growth-oriented segments. Shareholders should note that these adjustments, although negative for short-term profits, may enhance long-term value.
Continued Expansion: The ongoing investments in specialist and primary care clinics, along with the expansion of banking facilities, could support further inorganic growth and network expansion, potentially impacting future earnings positively.
Improved Cash Flows: The strong operating cash flow may provide a buffer against external shocks and offer resources for future expansion or to weather macroeconomic uncertainties.
Rising Costs: Shareholders should monitor the impact of ongoing inflation and rising business costs, which may pressure margins moving forward.

About Livingstone Health

Livingstone Health Holdings Limited is a multidisciplinary healthcare group based in Singapore, with core competencies in Specialist Healthcare and Primary Healthcare. The Group currently operates 22 clinics, staffed by 24 medical specialists and practitioners, including clinics in medical aesthetics and podiatry. Livingstone Health also provides healthcare consultancy services in the region.

Contact Information

For further inquiries, shareholders and investors can contact Wong Qingyuan, Chief Financial Officer, at [email protected] or +65 6932 7721.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. All financial figures are based on unaudited results as disclosed by Livingstone Health Holdings Limited. Investors are advised to consult with professional advisors and refer to official company disclosures before making investment decisions.

利文斯通医疗2026财年财报：收入增加，战略优化与增长举措

财报要点

收入增长：利文斯通医疗控股有限公司（“利文斯通医疗”）截至2026年3月31日的2026财年收入为2930万新元，同比增长5.9%（2025财年为2765万新元），实现连续两年营收增长。
盈利能力：尽管收入增加，归属于公司股东的净利润大幅下降60%，至22.3万新元（2025财年为55.7万新元），主要因关闭表现不佳的Ardennes体检中心导致的损失和一次性费用。
调整后净利润：剔除Ardennes相关损失和一次性费用，调整后净利润为60.8万新元，反映持续经营业务的盈利能力。
现金流：集团经营性净现金流为310万新元，归功于更佳的营运资金管理。
财务状况：截至2026年3月31日，集团净资产690万新元，现金及现金等价物为240万新元，财务状况健康。

战略和运营动态

业务优化：集团果断关闭表现不佳的Ardennes体检中心，以优化医疗网络和提升运营效率。该举措带来复原费、资产减值及相关医疗资产处置损失，对净利构成压力。
投资增长：新增投资内分泌专科诊所（2025年4月）与结直肠及普通外科诊所（2025年12月），2026年3月再收购一家初级医疗诊所，持续扩大初级医疗网络。
人才队伍：公司持续投入并保留医疗人才，支撑了收入增长，尽管人力成本上升。
协同效应：上述举措有望增强医疗生态系统，拓展患者覆盖面，加强各专科间的交叉转诊网络。

财务灵活性

银行授信增加：2026财年集团获两家区域银行合计400万新元新定期贷款，使可用银行授信增至700万新元，将支持潜在收购及营运资金需求。

业务展望与风险

谨慎展望：管理层对地缘政治紧张和通胀压力带来的营商环境挑战保持谨慎，未来成本上涨将对盈利能力带来压力。

股东关注与潜在影响股价事项

Ardennes中心关闭：关闭表现不佳中心虽带来一次性损失，但显示管理层致力于优化组合、聚焦盈利增长领域。此举短期影响利润，但有助长期价值提升。
持续扩张：专科和初级医疗网络扩展、银行授信提升，有助未来并购和网络扩张，或利好未来盈利。
现金流改善：强劲的经营现金流为应对外部冲击和未来扩张提供缓冲。
成本压力：持续关注通胀和成本上升对利润率的影响。

关于利文斯通医疗

利文斯通医疗控股有限公司是一家新加坡多学科医疗集团，主营专科及初级医疗服务。目前营运22家诊所，拥有24名医疗专家及执业医师，包括医美及足病诊所，并在区域提供医疗咨询服务。

联系方式

投资者可联络首席财务官黄庆源，电邮 [email protected] 或致电 +65 6932 7721。

免责声明：本文仅供参考，不构成投资建议。所有财务数据基于利文斯通医疗控股有限公司的未经审计财报。投资者应参考公司正式披露材料并咨询专业顾问后作出投资决策。