IHH's net profit jumps to RM89m in Q1

 Publish date: Thu, 30 May 2019, 9:06 PM

KUALA LUMPUR: IHH HEALTHCARE BHD's net profit jumped to RM89.51 million for the first quarter ended March 31, 2019 from RM57.24 million in the corresponding quarter last year on sustained organic growth in existing operations.
Revenue also surged to RM3.64 billion from RM2.85 billion previously, while earnings before interest, tax, depreciation, amortisation, exchange differences and other non-operational items rose 34 per cent year-on-year to RM813.7 million.
In a filing with Bursa Malaysia today, IHH said the better performance was also attributable to the contribution from Gleneagles Hong Kong Hospital, Acibadem Altunizade Hospital in Turkey, Amanjaya Specialist Centre in Kedah and Mumbai-based Fortis Healthcare.
On prospects, Asia's largest premium hospital group said it would adopt a multi-country portfolio strategy to diversify its earnings base in cash flow-generative markets such as Singapore and Malaysia, medium-term growth momentum from Turkey and long-term growth opportunities from India and China.
 - Bernama
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