Premium healthcare group IHH Healthcare yesterday reported a net profit of RM101.26 million (S$34.2 million) for the fourth quarter compared with a loss of RM42.51 million previously, which was impacted by a number of exceptional items.
Stripping out the exceptional items, net profit would have fallen 18 per cent to RM181.9 million on the back of incremental depreciation, amortisation and finance costs with the opening of two new hospitals in March last year.
Revenue rose 10 per cent to RM2.88 billion on the back of growth from existing operations and the ramp-up of the new hospitals - Gleneagles Hong Kong Hospital and Acibadem Altunizade Hospital - which opened last year.
Earnings per share for the quarter came to 0.95 sen, compared with a loss per share of 0.52 sen previously. The board has recommended a first and final dividend of three sen per share for the full year, on a par with what it paid out in the prior financial year.
For the 12 months ended Dec 31, revenue increased 11 per cent to RM11.14 billion, while net profit rose 58 per cent to RM969.95 million. Excluding exceptional items, profits would have been 31 per cent lower at RM595.3 million.
Lower cost of sales gave a fillip to results for Wheelock Properties in its fourth quarter.
Net profit was $19.9 million, a reversal from a net loss of $16.4 million in the preceding year.
For the three months ended Dec 31, revenue dived 42.7 per cent to $128.6 million. Earnings per share came in at 1.66 cents, a reversal from a loss of 1.37 cents in the previous year.
Net asset value per share crept up to $2.61 from $2.50 a year ago. Dividend per share was flat at six cents for the full year.
The manager of ESR-Reit yesterday announced details for its pro-rata and non-renounceable preferential offering of up to 262.8 million new units at 54 cents each to raise gross proceeds of up to $141.9 million. This will be done on the basis of 199 new units for every 1,000 existing units. The issue price is a 7.1 per cent discount to the volume weighted average price of 58.12 cents per unit done on Feb 27.
The Reit's sponsor, ESR Cayman, has provided an irrevocable undertaking to accept the provisional allocation of new units and subscribe for the excess units to the extent that its subscription does not exceed $125 million. The sponsor has a 12.4 per cent stake in the trust. Mitsui & Co, which owns 1.6 per cent of the trust, has also provided a commitment letter to accept its provisional allocation of new units in full.