Staff reporter
,
Singapore
Photo taken from Shutterstock
Excluding special items, earnings rose 35%.
IHH Healthcare’s 2024 year-to-date (YTD) net profit was US$573m (RM1.9b), down 13% year-on-year.
The decline was due to a one-off gain of S$263 million (RM873 million) from the sale of International Medical University (IMU) last year, off a higher base. Excluding special items, net profit increased by 35%.
Revenue and EBITDA for the period achieved double-digit growth of 13% and 12% to US$530 million (RM1.77 billion) and US$120 million (RM400 million) respectively. This growth was driven by continued increases in patient volume and revenue intensity across all markets.
In the third quarter of 2024, IHH Healthcare’s occupancy rate reached 73%, with 12,220 operating beds serving 232,071 patients.
Over the next five years, the group plans to add approximately 4,000 new beds under the Alignment-Challenge-Empowerment (ACE) framework.
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