IHH Healthcare's Q2 earnings up 12% on higher turnover

Singapore

IHH Healthcare posted a 12 per cent improvement in bottom line to RM185 million (S$60.8 million) for its second quarter ended June 30, due to higher revenue, as well as the adoption of the MFRS 16 Leases accounting standard with effect from this year, the healthcare group said on Friday.

As a result, the group recognised depreciation of its right-of-use assets, instead of recognising operating lease expense and amortisation of prepaid lease payments on these assets, it said.

Revenue for the three months to June 30 climbed 37 per cent to RM3.6 billion, as a result of organic growth from existing operations and the contribution from Gleneagles Hong Kong Hospital and Acibadem Altunizade Hospital, both opened in March 2…