IHH Healthcare posts revenue growth but net income down 58% YoY
Recorded net profit was at $57.3m in the final quarter of 2022.
Despite earnings growth, IHH Healthcare recorded an almost 60% YoY decline in its net income to $57.3m (RM191.3m) in the fourth quarter (Q4) of 2022.
In a financial statement, the group attributed the decrease to its millions of impairment losses linked to its China assets and goodwill.
To mitigate this, IHH Healthcare reported a strong balance sheet with growth in revenue. Its earnings went up $1.4b (RM4.9b) YoY in Q4 2022.
Higher operating costs led to the healthcare firm’s EBITDA 4% YoY decline to $329m (RM1.1b) in Q4 2022.