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 OPTIMAX 0222 OPTIMAX HOLDINGS BERHADs' net profit surged more than two-fold to RM4.59mil in Q2

Chief executive officer Sandy Tan said the continued improvement in the company’s financial results came on the back of the resumption of social and economic activities in Malaysia.

KUALA LUMPUR: Optimax Holdings Bhd's net profit surged more than two-fold to RM4.59 million in the second quarter (Q2) ended June 30, 2022, from the RM2.03 million recorded in the same quarter a year ago.

Revenue in Q2 increased 53.4 per cent to RM27.65 million from RM18.03 million.

Chief executive officer Sandy Tan said the continued improvement in the company's financial results came on the back of the resumption of social and economic activities in Malaysia.

"With the relaxation of Covid-19 restrictions since the latter part of 2021, we have seen a steady increase in the number of patients going for various eye surgeries and procedures at our clinics, including those who had earlier postponed their refractive and cataract surgeries due the various movement control orders.

"This growth was further fuelled by our intense marketing effort to reach out to customers with the on-going promotions for our eye-specialist services, which included giving out free vouchers and discounts through online platforms.

"In addition, effective cost-control measures had resulted in lower expenses, which helped lift our quarterly earnings," she said in a statement today.

Optimax's net profit for the six-month period more than doubled to RM7.17 million from RM3.31 million, while revenue increased 56.5 per cent to RM50.91 million from RM32.52 million.

Tan said the strong year-to-date financial performance is well-timed to complement its plan to transfer Optimax listing to the main market of Bursa Malaysia from ACE market.

"We are happy to have received the overwhelming support of our shareholders through the passing of the special resolution on this matter at our Annual General Meeting on June 23, 2022.

"The transfer to the main market, which is expected to materialise in Q4 FY22, will mark another significant milestone in the achievement of Optimax after our listing on the ACE market on August 18, 2020," she said.

Tan said moving forward, the company is optimistic that the prospects for Optimax would remain favourable, especially with the performance of some of its branches now back at pre-Covid-19 levels.

"Nevertheless, we remain vigilant of the prevailing risks associated with the resurgence of Covid-19 infection, inflation and supply chain disruptions, and ready to respond and mitigate any potential downside.

"Longer-term wise, we are confident that the demand for eye-specialist services would continue to be on an uptrend due to the ageing demographic in Malaysia, which will drive demand for non-elective treatments, as well as rising consumer affluence, which will drive discretionary spending on elective procedures to correct vision problems or for cosmetic reasons," she added.

https://www.nst.com.my/business/2022/08/823832/optimax-holdings-net-profit-surged-more-two-fold-rm459mil-q2

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