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Strong revenue, net profit growth expected for Bumrungrad Hospital
The hospital will continue to benefit from foreign patient revenues.
Bumrungrad Hospital will continue to “enjoy” high revenue and hikes in net profit in the next few years due to the influx of international tourists, CGS-CIMB said.
The hospital posted THB1.5b core net profit in the third quarter of 2022, up 407% year-on-year and 29% quarter-on-quarter. It was 25% above the analyst’s predictions.
Its foreign patient revenue soared 213% YoY and 25% QoQ in Q3 2022 and accounted for 67% of the quarter’s total.
With these earnings, CGS-CIMB reiterates its Add call on Bumrungrad Hospital. Its target price was up to THB 260 from THB250.
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