PETALING JAYA: IHH Healthcare Bhd’s net profit for the fourth quarter ended Dec 31, 2021 went up 8.16% to RM453.60 million from RM419.36 million in the corresponding quarter last year on the back of increased patient volumes.
Its revenue increased 18.72% to RM4.47 billion from RM3.77 billion previously as the group saw continued growth across the countries it operated in, with patient volumes picking up since June 2020. The acquisition of Bel Medic in Serbia in July 2021 and DDRC SRL in India in April 2021 also contributed to the increase .
The group declared a first and final dividend of 6 sen per share for Bursa shareholders and 1.931 sen per share for Singapore Exchange shareholders, a 50% increase compared to a year ago.
For the full year, its net profit increased fourfold to RM1.86 billion from RM288 million previously on the back of stronger ebitda, lower net finance costs and higher share of profits from associates.
Revenue for the cumulative period increased 27.81% to RM17.13 billion from RM13.4 billion previously due to a lower base in FY2020 when Covid-19 lockdowns occurred in the markets IHH operates in.
IHH said as the world emerges from the pandemic, there may be short-term headwinds as Covid-19 services taper off. “We are cognisant of rising staff costs and inflationary pressures, but remain disciplined and will continue our journey of improving ROE as normalcy returns. Long-term mega-trends will remain intact and favourable, business-as-usual will return and we see continued growth,” it added.
IHH Healthcare managing director and CEO Dr Kelvin Loh said IHH will embark on a “Care.For Good.” strategy.
“We will continue to strengthen our trust culture; improve locally, synergise globally; and develop growth engines. This is with a clear goal to increase ROE including through our focus on growing the laboratory business and setting aside US$100 million for our digital transformation journey.”