IHH Healthcare net profit climbs 29% to RM317m; EPS rises to 3.84 sen

A one-off gain from the divestment of Apollo Hospitals stake and revenues from two newly opened hospitals boosted results for IHH Healthcare Bhd in its second quarter.

Net profit was up 28.6 per cent to RM316.6 million (S$100.8 million) from the previous year, the group said in a Singapore Exchange filing on Wednesday evening.

For the three months ended June 30, revenue increased 12.1 per cent to RM2.77 billion from the previous year. The expansion in revenue was due to contribution from new hospitals as well as the sustained growth in both inpatient admissions and revenue intensity across all home markets, it said.

It also added that the group's two newly opened hospitals - Gleneagles Hong Kong Hospital and Acibadem Altunizade Hospital in Turkey - were already contributing to revenue for the quarter.

Earnings per share rose to 3.84 sen from 2.99 sen in the preceding year. Net asset value per share crept up to 2.69 sen as at June 30, from 2.67 sen six months ago. No dividend was proposed.

IHH shares ended 0.5 Singapore cent or 0.3 per cent down at S$1.895 on Wednesday.