Q & M Dental Group Limited reported profit after tax attributable to shareholders of S$9.3 million for the 12 months ended 31 Dec 2025, down 35 percent year-on-year, as higher other losses more than offset growth in its core dental operations.
Group revenue rose 9 percent to S$197.2 million, lifting total dividend to 0.82 Singapore cent per share for FY2025. The second interim cash dividend of 0.42 cent will be paid on 28 Mar 2026, following a first interim distribution earlier in the year. The full-year payout represents an 83 percent payout ratio, versus 73 percent in FY2024, when shareholders received 1.10 cent.
Core dental revenue climbed 12 percent to S$195.0 million, driven by increased contributions from Singapore clinics and the consolidation of Aoxin Q & M and EM2AI from associates to subsidiaries in May 2025. Profit after tax from the segment advanced 16 percent to S$30.4 million. By contrast, revenue from other businesses slid 68 percent to S$2.2 million after the cessation of the medical laboratory operation in September 2024.
The bottom line was weighed down by S$4.6 million of net other losses, mainly from deemed disposal accounting entries tied to the consolidation of Aoxin Q & M and EM2AI, as well as write-offs linked to the relocation of the Singapore head office. Cash and cash equivalents surged to S$117.1 million from S$34.3 million a year earlier, although total borrowings, including finance leases, increased to S$143.4 million.
Capital management remains active. The board authorised a further share-buyback allocation of up to 40 million ordinary shares, raising the cumulative mandate to 90 million shares.
Looking ahead, the Group intends to accelerate its Asia-Pacific expansion via a partnership-driven acquisition model that offers vendors a mix of cash and equity, turning former owners into long-term partners. Management plans to couple this structure with greater investment in training and retaining dental professionals to underpin earnings quality.
Group Chief Executive Officer Dr Ng Chin Siau said the enlarged cash pile positions the company to scale both locally and regionally. He noted that future growth will hinge not only on clinic openings but also on developing clinical talent to sustain service standards and shareholder returns.
Within China, subsidiary Aoxin Q & M is evaluating acquisitions of established clinic chains outside its north-eastern base, with a potential investment of about RMB43.7 million (S$8.0 million). Management expects the move to diversify geographic exposure and generate operational synergies across the network.
The company reiterated its intention to build an integrated, talent-anchored regional healthcare platform capable of delivering sustainable earnings growth and long-term value to shareholders.