IHH Healthcare earnings up 3.6% to RM127.27m

KUALA LUMPUR: IHH Healthcare Bhd's earnings rose 3.6% to RM127.27mil in the first quarter ended March 31, 2013 from RM122.77mil a year ago.
It
said on Thursday the group's profit after tax and minority interests
(PATAMI) increased by 3% on-year to RM113.7mil. However, if exceptional
items were excluded, it increased by 18% on-year to RM119.9mil from
RM101.8mil.
IHH explained this was due to growth in earnings
before interest, tax, depreciation and amortisation (EBITDA) and savings
in financing costs after repaying the Parkway and Acibadem acquisition
loans from the utilisation of the initial public offer proceeds, which
also offset the incremental depreciation cost and financing cost
relating to new hospitals.
"These numbers exclude the effects of
the consolidation of ParkwayLife REIT in both Q1, 2013 and Q1, 2012, and
more accurately reflects the underlying performance of the group's
healthcare business," it said.
Group revenue increased by 29% on-year to RM1.62bil from RM1.26bil. Earnings per share were 1.58 sen compared with 2.04 sen.
IHH
pointed out there was a positive growth trend for inpatient admission
volumes across Singapore, Malaysia and Turkey from a year ago.
"Other
operational highlights included the narrowing of EBITDA losses for new
hospitals Mount Elizabeth Novena and Acibadem Ankara; Gleneagles Hong
Kong Hospital now in planning stage, Vietnam City International Hospital
about to be commissioned," it said.