Miricor Announces Q3 Results; Revenue up 21.9% to HK$74.5 Million

Expansion of Medical Aesthetic Centre to Capture Accelerating Demand

HONG KONG — Miricor Enterprises Holdings Limited (“Miricor” or the “Group”, stock code: 8358), a medical aesthetic service provider in Hong Kong, today announced its third quarterly results of FY2016/17 after its successful listing on The Stock Exchange of Hong Kong Limited on 10 January 2017.

The Group’s revenue increased by 21.9% to HK$74.5 million for the nine months ended 31 December 2016 (the “Period Under Review”), comparing to the corresponding period of 2015.

The increase was primarily attributable to the successful launch of member referral scheme and the introduction of two new treatments for facial and body.

Net profit during the Period Under Review amounted to HK$4.9 million versus HK$13.8 million for the corresponding period of 2015.

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The decline was mainly due to approximately HK$11.5 million of listing expenses incurred. Excluding the one-off listing expenses, the net profit for the nine months ended 31 December 2016 would have been HK$16.4 million, representing an increase of approximately 19.1% as compared to the corresponding period of 2015.

During the Period Under Review, treatment services remains as the top contributor to the Group’s revenue. The sector brought revenue of HK$67.4 million, representing 90.5% of the Group’s total revenue.

To capture the anticipated growth of the medical aesthetic service industry, the Group plans to expand its network of medical aesthetic centres in Hong Kong by opening a new medical aesthetic centre in Kowloon neighbouring high-end and high-traffic shopping complexes in FY2017/18.

The Group aims to capture greater market penetration and further increase its profitability through the expansion plan, with attracting new clients in a more diverse location and providing existing clients the convenience and flexibility to choose where they wish to receive treatment.

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Looking to the future, the Group will continue to pursue employee excellence through staff training programs, as well as attraction and retention schemes, in its bid to perfect customer offerings.

Moreover, the Group will further tighten its internal control measures, including protocols for procedures and measures for monitoring sales tactics.

The Group will also keep abreast of latest technologies and conduct market research on prevailing treatment technologies and skin care products to make sure it is able to satisfy clients’ needs at all times. – BusinessNewsAsia.com

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