IHH Healthcare net profit cut in half after exceptionals a year ago

Asia's largest private healthcare operator IHH Healthcare reported a 61 per cent drop in net profit in the second quarter from a year ago to RM156.8 million.

This was largely because profits for the second quarter of last year were boosted by the recognition of the sale of medical suites at Mount Elizabeth Novena Specialist Centre which contributed RM1.21 billion in revenue and RM193.6 million in profit after tax to the group.

For the same reason, revenue also dipped 38 per cent over the second quarter this year to $1.68 billion.

Excluding the recognition of the sale of medical suites, revenue rose 14 per cent while net profit fell 24 per cent.