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HMI posts Q3 profit of RM15.9m, reversing loss from previous year

MAINBOARD-LISTED private healthcare provider Health Management International Ltd (HMI) recorded a net profit of RM15.9 million (S$5.4 million) in its third quarter, reversing a net loss of RM1.6 million in the year ago period, it said on Wednesday evening.

Earnings per share came in at 1.9 sen, a reversal from a loss per share of 0.26 sen in the previous year.

For the three months ended March 31, revenue expanded 7.1 per cent from RM107.7 million in the previous year to RM115.4 million.

The company said in a filing with the Singapore Exchange that the growth in revenue was driven by rising patient loads and average bill sizes at Mahkota Medical Centre and Regency Specialist Hospital in Malaysia.

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HMI also owns a healthcare training centre in Singapore.

Net asset value per share increased to 28.28 sen as at March 31, from 20.54 sen nine months ago.

Said Chin Wei Jia, chief executive officer, HMI: "We are focused on executing initiatives targeted at delivering quality health care and expanding our specialist offerings to provide our patients with a comprehensive range of services."

"Overall, we are in growth mode, recruiting new specialists and expanding capacity at both hospitals. Backed by a strong balance sheet, the group is also exploring partnerships and strategic acquisitions to further enhance clinical excellence and expand geographically," she added.

HMI shares closed S$0.005 or 0.7 per cent down at S$0.67 on Wednesday before the announcement.