IHH Healthcare posts lower Q3 pre-tax profit of RM96.5m

KUALA LUMPUR, Nov 28 – IHH Healthcare Bhd posted a lower pre-tax profit of RM96.491 million for the third quarter ended Sept 30, 2012, against RM163.049 million in the same period last year.

Revenue, however, increased to RM1.489 billion from RM804.960 million.

In a filing to Bursa Malaysia, the biggest healthcare services provider in Asia said on a quarter-on-quarter basis, seasonality factors accounted for a  drop in its performance.

Managing Director Dr Lim Cheok Peng said the group was also taking action to capture the growing demand for quality healthcare in its home markets.

“In addition to the recent opening of Novena Hospital, we are renovating existing hospitals in Singapore to improve our offering to patients and maintain market leadership.

“We also have a strategically phased pipeline of other expansion projects and new hospital developments in Malaysia and Turkey, which are on schedule and will be completed in the next few years,” he added.

Moving forward, Chairman Tan Sri Dr Abu Bakar Suleiman said the group was cautiously optimistic of achieving satisfactory performance for the final quarter of the year. – Bernama


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