OUE Healthcare expects higher H2, FY23 profit on fair-value gains

CATALIST-LISTED OUE Healthcare is expecting a higher year-on-year profit after tax for the second half and full year ended Dec 31, 2023, based on a preliminary assessment of its financial results.

In a bourse filing on Wednesday (Feb 21), the company said it expects the stronger results due to net fair-value gains relating to its investment properties.

The company, which was known as OUE Lippo Healthcare, reported a net loss of S$4 million for the second half ended Dec 31, 2022. It posted a net profit of S$4.4 million for FY2022.

The company is in the process of finalising its unaudited financial results, which will be announced on or before the end of this month.

Shares of OUE Healthcare closed unchanged at S$0.026 on Wednesday, before the announcement.