KPJ Healthcare Bhd’s net profit rose by 17.9% year-on-year (YoY) to RM61.32 million for the fourth quarter (4Q) ended Dec 31, 2017, on the continued growth of its Malaysian operations.
In an exchange filing today, the private healthcare provider’s revenue grew by 13.3% YoY to RM833.73 million due to increase in number of patient episodes and complex cases per inpatient which can be attributed to promotional activities on healthcare and healthcare tourism efforts over last year.
Its new hospitals in Klang, Rawang, Pasir Gudang, Bandar Maharani and Pahang noted stronger revenue contributions, while a total of 25 new consultants joined the healthcare group and thus helped increase inpatient and outpatient treatments by 8% YoY.
Its operations in Indonesia were weighed down by the lower number of patients attracted, especially for Rumah Sakit Medika Permata Hijau, and higher foreign exchange losses due to the stronger ringgit.
For the full financial year, net profit improved by 7.8% YoY to RM165.55 million with revenue increasing 7.1% YoY to RM3.18 billion.
KPJ added it is confident revenue from matured and maturing hospitals in Malaysia will grow in tandem with increasing public demand but recognises that rising cost in the country will continue to be a challenge in 2018.
The healthcare player said it will focus on discipline cost management while its new hospitals completing their gestation period bode well for the group’s results.
Source : The Malaysian Reserve