KUALA LUMPUR: IHH Healthcare Bhd
said it is confident over its trajectory as healthcare needs continue to grow both locally and around the region.
Moving forward, the healthcare provider said it will anchor on its ACE framework to deliver against its five strategic priorities, notably aiming to add close to 4,000 new beds in the next five years.
"Overall, the group expects continued revenue growth fuelled by healthcare megatrends and will focus on driving profitability and sustaining healthy ROE while maintaining prudent capital management and mitigating inflationary and interest rates pressures," it said in a statement.
Announcing its results for the third quarter ended Sept 30, 2024, IHH said its net profit came to RM534mil, slightly improved from RM532mil in the year-ago quarter, while earnings per share rose to 6.06 sen from 6.04 sen previously.
The group's revenue dipped to RM5.64bil from RM5.83bil in 3QFY23 due to the effects of MFRS 129 reporting standards.
Meanwhile, IHH's net profit in the nine months period was RM1.93bil, below RM2.22bil in 9MFY23 while revenue rose to RM17.69bil from RM15.64bil in the comparative period.
The lower net profit in the current period was owing to the one-off gain of RM873mil from the sale of International Medical University in the previous year.
According to IHH, its balance sheet remains strong with RM3.1bil net cash generated from operating activities and net gearing at a healthy 0.24x.
"We delivered a solid core performance for 3Q24 and year-to-date as we improved inpatient volumes and revenue intensity.
"As part of our commitment to elevating care and clinical excellence, we are proud to be the largest private healthcare provider in the world to implement CDC guidelines for managing antimicrobial resistance, across our network of more than 80 hospitals across 10 markets," said group CEO Dr Prem Kumar Nair.
