IHH Healthcare profits up 61% to $45.5m in Q3

The new Mount Elizabeth Novena hospital. Net profit at Malaysia's IHH Healthcare, Asia's largest hospital operator, rocketed 61 per cent to 117 million ringgit (S$45.5 million) in the third quarter year-on-year, it said on Tuesday, Nov 26, 2013.
The new Mount Elizabeth Novena hospital. Net profit at Malaysia's IHH Healthcare, Asia's largest hospital operator, rocketed 61 per cent to 117 million ringgit (S$45.5 million) in the third quarter year-on-year, it said on Tuesday, Nov 26, 2013. -- FILE PHOTO: IHH HEALTHCARE

Net profit at Malaysia's IHH Healthcare, Asia's largest hospital operator, rocketed 61 per cent to 117 million ringgit (S$45.5 million) in the third quarter year-on-year, it said on Tuesday.

Revenue for the three months to Sept 30 went up 13 per cent to 1.67 billion ringgit from the preceding year.

The company told the Singapore Exchange that this was due to a "combination of organic growth in ongoing operations and stronger performances from new hospitals".

Earnings per share were 1.44 sen for the quarter, up from 0.95 sen the preceding year. Net asset value per share was 2.20 ringgit as at Sept 30, a slight increase from 2.13 ringgit as at Dec 31.

Its share price closed flat at $1.59 on Tuesday.