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IHH sees 403% surge in 4Q earnings

Arujuna Chandran Shankar & Tan Xue Ying
Arujuna Chandran Shankar & Tan Xue Ying3/6/2019 05:12 PM GMT+08  • 4 min read
IHH sees 403% surge in 4Q earnings
SINGAPORE (Mar 4): IHH Healthcare’s net profit for 4QFY2018 ended Dec 31 jumped 403% to RM509.42 million ($169 million), from the RM101.26 million it posted a year ago, as the group recorded stronger operational performance, boosted by foreign exchange
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SINGAPORE (Mar 4): IHH Healthcare’s net profit for 4QFY2018 ended Dec 31 jumped 403% to RM509.42 million ($169 million), from the RM101.26 million it posted a year ago, as the group recorded stronger operational performance, boosted by foreign exchange (forex) gains from Acibadem Holdings’ non-Turkish lira loans.

Revenue for the quarter ended Dec 31, 2018 rose 10% to RM3.17 billion, from RM2.89 billion a year ago, on sustained organic growth from its existing operations and the continuous ramp-up of the Gleneagles Hong Kong Hospital and Acibadem Altunizade Hospital.

“The acquisition of Amanjaya (acquired in October 2018) and Fortis (acquired in November 2018) also contributed to the increase in both the group’s 4QFY2018 revenue and Ebitda (earnings before interest, taxes, depreciation and amortisation).

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