IHH Healthcare Q0F has reported earnings of RM1.4 billion for 1QFY2023, up 182% y-o-y. Revenue in the same period was ujp 24% y-o-y to RM5.1 billion,
The bottomline was lifted by a one-off gain of RM1.3 billion from disposal. IHH plans to distribute the proceeds from the sale of International Medical University to shareholders in the form of a special dividend payout of 9.6 sen.
"Demand for domestic elective procedures and medical tourism continue to trend upward in a post-Covid environment," notes the company on May 31.
“We kicked off the year with a stellar set of results, recording our highest ever quarterly revenue and
nearly tripling net income," says group COO Joe Sim in his earnings commentary.
"While this was boosted by one-off gains from our strategic divestment of IMU, we had also seen stellar operational growth as we took in more patients across our key markets," adds Sim.
Over the next three years, IHH plans to grow organically by adding more than 2,000 new beds in Malaysia, India and Türkiye over the next three years.
IHH plans to also make acquisitions, as well as expand its service offerings such as by developing its laboratory and diagnostics business and investing into complementary digital health services.
The company expects "robust" revenue growth to continue, even as it keeps a tight rein on costs.
