Pacific Smiles Group (ASX:PSQ) reports declines due to COVID-19 – The Market Herald

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  • Pacific Smiles Group (PSQ) provides an update on its performance for the year to date, reporting declines due to COVID-19
  • The company reported a 9% year-over-year decline in patient fees to $145.1 million.
  • The declines were attributed to the number of COVID-19 infections, which impacted patient attendance at its centers
  • Over the past week the company has had several centers across NSW and Queensland affected by flooding, most of which have now reopened
  • Shares closed up 0.92% today at $2.20 each

Pacific Smiles Group (PSQ) provided an update on its performance for the year to date, noting declines due to COVID-19.

The company reported a 9% year-over-year decline in patient fees to $145.1 million. It also saw a 13.1% year-over-year decline in fees for patients at the same center.

Total patient fees in January and February were 5.2% lower than the previous year. However, PSQ said February surpassed January.

The declines were attributed to the number of COVID-19 infections, which impacted patient attendance at its centers.

Over the past week, the company has had several centers across New South Wales and Queensland affected by flooding.

All have now reopened and are in operation except for Lismore.

The company remains on track to open between 15 and 20 new centers this fiscal year.

With Chatswood opening last month and Craigieburn opening this month, the total number of centers will reach 121.

The company will continue to provide performance updates monthly to be transparent with COVID-19 related disruptions.

The shares closed up 0.92% today at $2.20 each.

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