Company Briefs: IHH Healthcare

IHH Healthcare

Malaysia's IHH Healthcare, Asia's largest hospital operator, reported a 46 per cent increase in profit to RM173.3 million (S$56.4 million) for the third quarter ended Sept 30.

Revenue grew by 18 per cent to reach RM2.44 billion from RM2.06 billion for the same period a year earlier.

The company attributed revenue growth to the ramping up of operations at Gleneagles Kota Kinabalu Hospital, the Acibadem Taksim Hospital in Turkey and the Gleneagles Medini Hospital in Johor.

Its flagship subsidiary Parkway Pantai increased revenue by 20 per cent to RM1.54 billion on higher patient volume at its Singapore and Malaysia hospitals.

Earnings per share rose to 2.11 sen for the quarter, up from 1.44 for the same quarter a year earlier, while net asset per share was RM2.67, down from RM2.69.

Chew's Group

Catalist-listed egg producer Chew's Group said full-year revenue fell 5 per cent to $31.6 million, due to lower sales of designer and generic eggs.

But net profit surged from $2.1 million to $27.9 million due to the disposal of land use rights and a substantial part of its property, plant and equipment. This reaped a one-time gain of $24.4 million. There was also a government grant of $3.2 million.

It added that without these, profit for the year would have been about $2 million.

Earnings per share rose to 33.03 cents for the full year, up from 2.63 cents for last year, while net asset value rose to 61.19 cents, up from 28.64 cents a year earlier.

BRC Asia

Despite delivering a higher volume of steel, supplier BRC Asia recorded a 10 per cent fall in revenue to $346.8 million for the full year to Sept 30.

It attributed the decline to lower selling prices, due to intense competition.

Net profit plunged 46 per cent to $8.34 million, down from $15.46 million a year earlier. Earnings per share also took a hit, falling to 4.476 cents from 8.27 cents, while net asset value per share rose to 92.04 cents, up from 89.81 cents.

The company said the coming year will be "challenging and volatile", citing oversupply in the local market.

A version of this article appeared in the print edition of The Straits Times on November 25, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe