SINGAPORE (Nov 30): Analysts say IHH Healthcare’s 3Q18 headline loss of RM104 million ($34 million) did not come as a surprise, given the 30% q-o-q depreciation of the Turkish lira versus the US dollar.

Excluding these exceptional items, 3Q18 core PATMI would have been higher 146% y-o-y and 20% q-o-q at RM309 million.

And while 3Q18 revenue was flat, EBITDA improved 10% to RM616.8 million, mainly due to the ramp-up of Acibadem Altunizade hospital in Turkey. On constant currency terms, sales growth would have been stronger at 18% while EBITDA should have risen 23% y-o-y.

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