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IHH Healthcare reverses out of the red with 3Q earnings of $77.3 mil

Stanislaus Jude Chan
Stanislaus Jude Chan11/29/2019 06:04 PM GMT+08  • 2 min read
IHH Healthcare reverses out of the red with 3Q earnings of $77.3 mil
SINGAPORE (Nov 29): IHH Healthcare posted earnings of RM236.3 million ($77.3 million) for 3QFY2019 ended September, reversing from losses of RM104.1 million a year ago.
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SINGAPORE (Nov 29): IHH Healthcare posted earnings of RM236.3 million ($77.3 million) for 3QFY2019 ended September, reversing from losses of RM104.1 million a year ago.

However, excluding exceptional items, IHH’s earnings would have been RM202.3 million in 3QFY2019, some 35% lower than earnings of RM309.0 million in 3QFY2018.

The decline was due to higher interest expense as additional loans were taken for the Fortis acquisition, working capital and swapping of Acibadem’s non-Lira loans to Lira loans upon refinancing and the adoption of a new accounting standard.

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