KUALA LUMPUR (Feb 21): KPJ Healthcare Bhd's fourth quarter net profit rose 91% to RM52.19 million from a year earlier on higher income from its Malaysian, Indonesian and Australian operations.

In a statement to Bursa Malaysia today, hospital operator KPJ said net profit rose to RM52.19 million in the fourth quarter ended Dec 31, 2016 from RM27.29 million. Revenue climbed to RM744.99 million from RM701.6 million.

"The (Malaysian) revenue for the current quarter was higher as compared to the corresponding quarter of the preceding year, mainly attributed to the increase in revenue generated by the newly opened hospitals and existing hospitals that had turn around during the quarter.

"(In Indonesia,) [t]he increase in revenue for this segment is mainly due to the increased number of patients in both Indonesian hospitals. (In Australia,) [t]he increase is mainly attributable to the higher capacity of the retirement village, with additional beds which has been opened on staggered (basis) between middle of 2015 up to the month of May 2016," KPJ said.

For the full year, KPJ said group net profit rose to RM149.2 million from RM135.33 million a year earlier. Revenue was higher at RM3.02 billion versus RM2.85 billion.

Looking ahead, KPJ said its new hospitals were seen curbing revenue growth due to these entities' gestation.

"For 2017, the group envisaged that the revenue growth from the new start-up and existing hospitals will continue to improve. However, the results will be moderated as most new greenfield hospitals are still operating within their gestation period of three to five years," KPJ said.

At the noon market break today, KPJ shares fell 1 sen or 0.25% to RM3.99, giving it a market capitalisation of RM4.18 billion.