IHH's Q3 profit down 53% on higher start-up costs
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
HIGHER costs from the opening of Gleneagles Hong Kong Hospital and Acibadem Altunizade Hospital in Turkey as well as depreciation and amortisation put a dent on mainboard-listed IHH Healthcare Berhad's third quarter net profit.
In a filing to the bourse operator on Monday, the healthcare provider said net profit for the three months ended Sept 30, 2017, fell 53 per cent year-on-year to RM82.1 million (S$26.9 million), mainly due to higher expected start-up costs arising from the opening of the new hospitals. Excluding the exceptional items, net profit dropped 42 per cent to RM125.4 million.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
