IHH Healthcare Q2 earnings jump 426% to RM403m (5225)

KUALA LUMPUR: IHH Healthcare Bhd's earnings jumped 426% to RM403.54mil in the second quarter ended June 30, 2012 from RM76.66mil.
It
said on Tuesday its revenue increased 230% to RM2.697bil from
RM815.96mil while earnings per share were 6.51 sen compared with 1.74
sen.
IHH said in the first half ended June 2012, revenue grew
65% on-year to RM2.8bil and profit after tax and minority interests
(PATMI), which excluded exceptional items, increased 35% to RM250.3mil.
The numbers exclude the sale of medical suites However, if the sale of
medical suites was included, revenue rose 137% on-year to RM4bil while
total PATMI (excluding exceptional items) increased 139% to RM443.9mil.
IHH said growth in the first half was underpinned by consolidation of Acibadem Holdings
from Jan 24, 2012 and also a one-time profit from sale of Mount
Elizabeth Novena medical suites as well as fair valuation gain on Mount
Elizabeth Novena's investment properties held for rental.
Other factors were improved performance of existing operations and greater demand for quality healthcare services in Asia.