KPJ 4Q profit falls to RM33m, pays 2 sen dividend

by **Cals** Sat 01 Mar 2014, 01:42

Business & Markets 2014

Written by Chong Jin Hun of theedgemalaysia.com

Friday, 28 February 2014 18:15

KUALA LUMPUR (Feb 28): Hospital operator KPJ Healthcare Bhd's net profit fell 2% to RM32.7 million in the fourth quarter ended December 31, 2013 from RM33.4 million a year earlier.

In a statement to the exchange today, KPJ said revenue, however, rose to RM634.5 million from RM510.6 million. The company said higher finance cost had curbed profit growth.

According to KPJ's income statement, the firm had registered finance cost amounting to RM14.4 million versus RM2.5 million.

"The profit before taxation for the current quarter of RM49.4 million has increased by 6% as compared to the corresponding quarter in 2012 of RM46.4 million, due to gain on fair value adjustments in relation to investment properties of an associate, Al-Aqar Healthcare REIT, amounting to RM9.2 million," KPJ said.

KPJ said revenue had grown on income rise in its Malaysian operations besides sales of pharmaceutical and medical products.

Full-year net profit fell to RM102.5 million from RM140 million a year earlier. Revenue was higher at RM2.33 billion versus RM2.1 billion.

The firm plans to pay a dividend of two sen a share for the quarter in review. This brings full-year dividends to 10 sen a share.

Looking ahead, KPJ said it would embark on its core strategy of expanding existing hospitals and building new ones.

KPJ said the move would "enhance the capacity and improve the service delivery for our patients".