KUALA LUMPUR (May 30): Global healthcare provider IHH Healthcare Bhd saw its net profit jump 56.4% to RM89.51 million in the first quarter ended March 31, 2019 (1QFY19) from RM57.24 million a year ago, on stronger operational performance and a lower foreign exchange loss in the current quarter under review.

This resulted in a higher earnings per share of 0.78 sen for 1QFY19 compared with 0.44 sen for 1QFY18.

Quarterly revenue also rose 27.6% to RM3.64 billion in 1QFY19 against RM2.85 billion in 1QFY18, on sustained organic growth at existing operations.

The improved revenue was also boosted by contribution from Gleneagles Hong Kong Hospital, Acibadem Altunizade Hospital, Amanjaya Specialist Centre and Fortis Healthcare.

On prospects, IHH said it continues to believe in the sustained demand for quality private healthcare in its home and growth markets.

"We will adopt a multi-country portfolio strategy to diversify our earnings base in cashflow-generative markets such as Singapore and Malaysia, medium-term growth momentum from Turkey and long-term growth opportunities from India and Greater China," it said in a statement today.

The group will also focus on ramping up its existing operations and integrating Fortis in the near to medium term.

Additionally, it will increasingly leverage technology to increase its productivity and service offerings, including adopting more advanced medical treatments and to improve clinical outcomes.

Given its geopolitical footprint across Asia and the Central & Eastern Europe, Middle East and North Africa region, IHH, however, warned that it is susceptible to geopolitical risks and currency volatility.

"In particular for Turkey, we expect the ongoing political uncertainty to weigh on the economic activity of the country, which will result in currency fluctuations," it said.

IHH shares closed down 2 sen or 0.36% at RM5.48 today, with 5.34 million shares done, giving it a market capitalisation of RM48.07 billion.