KPJ 2Q profit rises 33% on year, pays 1.45 sen dividend

by **Cals** Tue 26 Aug 2014, 23:14

Business & Markets 2014

Written by Chong Jin Hun of theedgemalaysia.com

Tuesday, 26 August 2014 13:19

KUALA LUMPUR (Aug 26): KPJ Healthcare Bhd's net profit rose 33% to RM33.74 million in the second quarter ended June 30, 2014 (2QFY14) from a year earlier. Profit growth came on higher revenue from the group's hospitals in Malaysia and Indonesia.

In a statement to Bursa Malaysia today, KPJ said revenue rose to RM662.82 million from RM587.7 million.

"The higher revenue for the period is mainly due to the increase in revenue of the existing hospitals and newly-opened hospitals in the group," KPJ said.

Cumulative first half net profit climbed to RM63.96 million from RM50.39 million a year earlier. Revenue was higher at RM1.27 billion versus RM1.13 billion.

For 2QFY14, KPJ plans to pay a single-tier dividend of 1.45 sen a share.

During the quarter, KPJ said business at its hospitals continued to grow in tandem with healthcare awareness.

"This is supported by exceptionally high bed occupancy at all hospitals including the newly completed hospitals in Klang, Pasir Gudang, Kota Kinabalu, Rawang and Muar. This positive impact will further support the group's core strategy in increasing and enhancing the capacity and improve service delivery for our patients within the network of KPJ hospitals.

"Thus, based on the positive economic prospects, increasing demand by public and the financial achievements for the first half of the year, the board of directors is confident that the group’s performance will continue to improve," KPJ said.