IHH Healthcare Q1 net profit rises to RM493.26m on increase in patient volumes, lower net finance costs

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KUALA LUMPUR, May 26 — IHH Healthcare Bhd posted a higher net profit of RM493.26 million in the first quarter ended March 31, 2022 (Q1 FY2022) from RM375.62 million a year...

KUALA LUMPUR, May 26 — IHH Healthcare Bhd posted a higher net profit of RM493.26 million in the first quarter ended March 31, 2022 from RM375.62 million a year earlier on an increase in patient volumes and lower net finance costs.

These were partially offset by the effects of disposal of Continental Hospitals Private Ltd on Dec 14, 2021, temporary closure of all clinics in China for a period during March 2022 imposed as a result of a spike in Covid-19 cases in Shanghai, and the effects of a weakening lira on the group’s revenue from its operations in Turkey.

“In the short term, we may expect to see some headwinds with the melt-off of Covid-19 related revenues as well as from global inflationary pressures.The statement said IHH plans to focus on strategic pillars: Trust, Synergy, and Growth underpinned by a compelling Environmental, Social and Governance agenda: to drive its operational and financial performance in 2022.

 

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