PETALING JAYA: TDM Bhd recorded a 29% increase in revenue to RM232.55 million for the third quarter ended Sept 30, 2025 (Q3’25), compared with RM179.87 million in the same period last year.
The improvement reflects stronger profitability and solid operational momentum across both its plantation and healthcare divisions.
Growth was mainly driven by the plantation division, which posted a RM47.4 million (54%) increase in revenue, while the healthcare division contributed an additional RM5.3 million (6%).
Net profit for Q3’25 rose to RM3.78 million from RM2.39 million a year earlier. Profit before tax (PBT) improved significantly to RM24 million, compared to a loss before tax of RM6.4 million in Q3’24.
Group earnings before interest, taxation, depreciation and amortisation (Ebitda) nearly tripled year-on-year, with the plantation division contributing RM38.2 million, an increase of RM26.7 million.
The plantation division’s Q3’25 revenue was supported by higher sales volumes of crude palm oil (CPO) and palm kernel (PK), which increased by 35% and 50%, respectively. Stronger average selling prices for CPO (up 10%) and PK (up 31%) further lifted performance.
PBT for the division improved sharply, swinging from a loss of RM4.9 million in the corresponding quarter last year to RM22.4 million in the current quarter.
For the nine months of FY25 (9M’25), group revenue rose 14% year-on-year, driven by a RM61.2 million (29%) increase in plantation revenue and a RM6 million (2%) rise in healthcare revenue.
Group PBT for the period stood at RM600,000, compared to a loss before tax of RM18.2 million previously.
Plantation revenue for 9M’25 increased 29% to RM273.5 million, supported by higher CPO and PK sales volumes (up 11% and 24%, respectively) and stronger average prices (up 9% and 37%).
Ebitda for the division rose by RM19.7 million to RM57.4 million, while PBT improved from a loss of RM13.2 million to a profit of RM10.8 million.
TDM said weather forecasts indicate a potential La Niña event in Q4 FY25, which may affect palm oil and soybean output.
TDM expects palm oil prices to remain firm for the rest of the year, hovering between RM4,300 and RM4,500 per tonne,, with a full-year average of around RM4,350.
The group’s healthcare division delivered steady growth in Q3’25, with revenue rising 6% year-on-year, driven primarily by KMI Kuala Terengganu and KMI Kuantan hospitals.
Outpatient numbers increased 12%, while average inpatient revenue rose 7%. PBT and Ebitda improved by 18% and 6%, respectively, marking a strong recovery from the festive-related slowdown in Q2.
For 9M’25, healthcare revenue grew to RM263.3 million from RM257.3 million.
Outpatient volumes rose 6%, and inpatient revenue per patient increased 3%.
However, Ebitda declined 21% to RM28.1 million, and PBT fell 31% to RM13.1 million due to higher operating costs, including staff wages, supplies, and finance expenses related to sukuk and lease liabilities.
TDM expects the healthcare division’s recovery to continue into Q4’25, supported by year-end demand and the absence of major festive interruptions.
Growth will be underpinned by expanded sub-speciality services, increased bed capacity, and ongoing service optimisation.
While cost pressures such as nursing salary adjustments and rising maintenance expenses remain, the group anticipates stronger revenue heading into FY26.
External challenges include medical inflation, insurance premium adjustments, and global pharmaceutical tariffs. However, a supportive domestic monetary environment following the reduction in Bank Negara Malaysia’s Overnight Policy Rate and resilient private consumption should help sustain healthcare spending.
Long-term strategic initiatives, including capacity expansion and new greenfield hospitals, remain on track.
The group expects continued operational recovery, revenue growth, and disciplined cost management to support profitability in an increasingly competitive healthcare landscape.
