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HMI posts 28% fall in full-year earnings to $6.7 mil on higher expenses, costs

PC Lee
PC Lee8/25/2016 11:00 PM GMT+08  • 1 min read
HMI posts 28% fall in full-year earnings to $6.7 mil on higher expenses, costs
SINGAPORE (Aug 25): Private hospital operator Health Management International (HMI) reported a 38% fall in fourth quarter earnings to RM4.87 million ($1.64 million) from a year ago due to higher expenses and costs.
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SINGAPORE (Aug 25): Private hospital operator Health Management International (HMI) reported a 38% fall in fourth quarter earnings to RM4.87 million ($1.64 million) from a year ago due to higher expenses and costs.

The drop was due to its utilisation of deferred tax assets recognised by subsidiary Regency Specialist Hospital Sdn Bhd, cost increases from non-recoverable input GST, and share-based expenses.

Turnover from the group's healthcare business accounted for RM 10.7 million of the increase mainly due to higher patient load and average bill sizes in its two hospitals, namely Mahkota Medical Centre and Regency Specialist Hospital.

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