Master Style Public Company Limited (SET: MASTER) has announced its 1Q25 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q25 | 1Q24 |
| Net Profit (Loss) Million Baht |
55.76 | 106.24 |
| Earning Per Share (Baht) |
0.1800 | 0.3500 |
| % Change | -47.51 | |
MASTER’s Net profit for 1Q25 was THB 55.77 million, a decline of THB 50.47 million or 47.51%, mainly due to higher costs and selling expenses.
For the three-month period ended 31 March 2025, MASTER’s revenue from hospital operations was THB 474.33 million increased by THB 6.26 million or equivalent to a growth Y-o-Y of 1.34 percent.
Surgery income and hair income increased by THB 16 million, while revenue from after care service declined by THB 11 million, mainly due to a drop in brow lift surgeries. However, revenue increased in men’s health services and hair transplant procedures.
MASTER’s cost of hospital operations was THB 215.76 million increased by THB 21.59 million or equivalent to a growth Y-o-Y of 11 percent. The increase in the cost of hospital operations is mainly due to the increase in doctor fee for the completion of the required number of treatments to receive an increase in their doctor fee rates.
The company has adjusted some doctor fee rates this quarter, most of which are for doctors who have worked with the company for a long time. And the increase from the cost of drugs, medical supplies and consumables increased because in the first quarter of 2025, the increased sales were procedures with higher drug and medical supply usage rates, such as male health procedures and breast surgery.
As for the selling expenses, MASTER reported the figure of THB 110.91 million increased by THB 27.69 million or equivalent to decrease Y-o-Y of 33.27 percent. The increase was mainly due to higher marketing expenses, particularly online advertising, as the company adjusted its strategy in response to new Department of Health Service Support (HSS) regulations on medical advertising. Personnel expenses in the sales and marketing departments also increased.
