IHH Healthcare profits up 28% to $57.42m in Q2

Singapore and Malaysia’s EBITDA earnings grew 28% and 29%, respectively.

Malaysian–Singaporean healthcare group IHH Healthcare generated an adjusted core earnings of $57.42m (RM240m) in Q2 2019, up 28% QoQ but down 7% YoY, UOB Kay Hian reported. This brings the core earnings for H1 2019 to a 14% rise YoY to $102.64m (RM429m).

Revenue and EBITDA jumped 38% YoY and 31% YoY on constant currency terms and excluding accounting effects respectively. 

The company's Singapore market recorded a top-line growth of 12% YoY, backed by 3.3% higher revenue and a 3.6% bigger inpatient volume notably due to higher number of foreign patients.

Singapore and Malaysia's EBITDA earnings went up 28% and 29% YoY, respectively.

Meanwhile, Gleneagles HK EBITDA declined to $1m (RM4.2m) QoQ from $9.57m (RM40m) in Q1, with an occupancy rate down to 62% from 68%.

Acibadem in Turkey registered a softer-than-expected top line of 13% YoY climb, as the medical inflation of 30% dragging overall patient volume by 5% YoY.

On the other hand, the EBITDA loss in India widened to $1.91m (RM8m), with the delay in the initial expectations of stabilised operations after a team of doctors left.