Advertisement
Singapore markets open in 4 hours
  • Straits Times Index

    3,314.14
    +8.12 (+0.25%)
     
  • S&P 500

    5,447.87
    -16.75 (-0.31%)
     
  • Dow

    39,411.21
    +260.88 (+0.67%)
     
  • Nasdaq

    17,496.82
    -192.54 (-1.09%)
     
  • Bitcoin USD

    59,497.39
    -4,210.29 (-6.61%)
     
  • CMC Crypto 200

    1,231.04
    -78.68 (-6.00%)
     
  • FTSE 100

    8,281.55
    +43.83 (+0.53%)
     
  • Gold

    2,345.90
    +14.70 (+0.63%)
     
  • Crude Oil

    81.70
    +0.97 (+1.20%)
     
  • 10-Yr Bond

    4.2480
    -0.0090 (-0.21%)
     
  • Nikkei

    38,804.65
    +208.18 (+0.54%)
     
  • Hang Seng

    18,027.71
    -0.81 (-0.00%)
     
  • FTSE Bursa Malaysia

    1,589.66
    -0.71 (-0.04%)
     
  • Jakarta Composite Index

    6,889.17
    -6,879.98 (-49.97%)
     
  • PSE Index

    6,272.46
    +113.98 (+1.85%)
     

IHH Healthcare reports FY2023 earnings of RM2.95 bil, up 91% y-o-y

IHH has revised its dividend policy to no less than 30% of patmi before exceptional items (EI).

IHH Healthcare Q0F has reported earnings of RM2.95 billion ($836.3 million) for the FY2023 ended Dec 31, 2023, 91% higher than its earnings of RM1.55 billion for FY2022.

Revenue for the full-year period increased 16% y-o-y to RM20.93 billion as the group’s core non-Covid-19 revenues recovered strongly with local and foreign patients returned for treatment at its hospitals.

Increased operations at Atasehir Hospital which opened in September 2022, the continuous ramp up of operations at GHK Hospital, as well as the acquisitions of Ortopedia in August 2022 and Kent in February 2023 also contributed to the increase.

ADVERTISEMENT

Other operating income in FY2023 increased 184% y-o-y to RM1.41 billion mainly due to the gain on disposal of IMU Health of RM872.5 million, Gleneagles Chengdu Hospital of RM116.5 million and Angsana of RM2.4 million.

In addition, the group reversed its RM21.3 million lease payable upon termination of its hospital project in Myanmar. These were partially offset by lower foreign exchange gains of RM91.9 million and lower valuation gains of RM14.4 million on the Group’s investment properties.

Earnings per share (EPS) for FY2023 stood at 33.52 sen, up over 17 sen for FY2022.

As at Dec 31, 2022, cash and cash equivalents stood at RM2.38 billion.

IHH has revised its dividend policy to no less than 30% of patmi before exceptional items (EI).

As such, the group has declared second and final cash dividend 5.5 sen payable on 26 April 2024, bringing total ordinary dividends for FY2023 to 9.0 sen. Including the special dividend of 9.6 sen paid in June 2023, total FY2023 dividends amount to 18.6 sen.

“As a testament to our confidence in our sustained growth trajectory of IHH, we are proud to announce the enhancement of our dividend policy. This upwards adjustment reflects our commitment to ensuring our shareholders participate in and benefit from our continued success and growth,” says Dr Prem Kumar Nair, group CEO.

“Our priority in the year ahead is to further solidify our position as a global healthcare leader, driving operational excellence, advancing innovation to push the boundaries of medicine and providing superior care and outcomes for patients,” he adds.

Shares in IHH Healthcare closed 2 cents higher or 1.14% down at $1.77 on Feb 29.

See Also: