IHH Healthcare 3Q net profit up 25.5% to RM146.9m

by **Cals** Wed 26 Nov 2014, 02:37

IHH Healthcare 3Q net profit up 25.5% to RM146.9m

KUALA LUMPUR (Nov 25): IHH Healthcare Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) saw its net profit for its third quarter ended Sept 30, 2014 (3QFY14) jump 25.5% to RM146.9 million from RM117.03 million a year ago on the back of earnings before interest tax depreciation and amortisation (Ebitda) growth and lower interest expenses, which were offset by higher depreciation costs.
Revenue for 3QFY14 rose 6.7% to RM1.78 billion from RM1.67 billion a year ago, on higher in-patient volume and average revenue for in-patient admission at its existing operations, as well as the contribution from new hospitals commencing operations.
Earnings per share (EPS) for 3QFY14 also improved to 1.8 sen compared with 1.44 sen in 3QFY13.
For its nine months ended Sept 30, 2014 (9MFY14), IHH Healthcare’s net profit grew 28.4% to RM515.06 million from RM 401.06 million a year ago, while revenue increased 8.65% to RM5.4 billion from RM4.98 billion in 9MFY13.
EPS was at 6.31 sen compared with 4.95 sen in 9MFY13.
“This (growth) reflects the robustness of our strategy to expand in high growth markets while optimising existing operations and bringing new hospitals onstream quickly, we remain in a strong financial position to drive our phased pipeline of projects going forward,” IHH Healthcare managing director and chief executive officer Dr Tan See Leng said in a statement today.
IHH Healthcare shares closed 2 sen or 0.4% lower at RM4.94 today, with a market capitalisation of RM40.4 billion.