IHH Q1 net profit up 100%

Healthcare company IHH Healthcare have reported a 100 per cent jump in net profit for the first quarter of 2017.
Healthcare company IHH Healthcare have reported a 100 per cent jump in net profit for the first quarter of 2017.PHOTO: IHH HEALTHCARE

SINGAPORE - Healthcare giant IHH Healthcare's net profit for the three months to March 31 rocketed 100 per cent to RM470 million (S$151 million), compared with the same period a year earlier.

Quarterly revenue grew 8 per cent to RM2.68 billion.

The firm reported on Friday (May 19) that it "sustained growth in inpatient admissions and revenue intensity across all home markets and the continued ramp-up of newer hospitals opened in 2015".

It also had a RM313.4 million gain from the sale of a non-core 6.07 per cent stake in Apollo Hospitals.

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IHH's largest operating unit, Parkway Pantai, reported a turnover growth of 8 per cent to RM1.67 billion.