KPJ Healthcare 3Q net profit jumps 50% y-o-y

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KUALA LUMPUR (November 25): KPJ Healthcare Bhd’s net profit jumped 50% to RM29.1 million in its third financial quarter ended Sept 30, 2014, from RM19.4 million in the previous year’s corresponding quarter.

“The increase is due to the improved performance from the existing hospitals and newly open hospitals in the group which are currently in the middle of their gestation period i.e. KPJ Bandar Baru Klang and PT Khasanah Putera Jakarta Medica,” said the company in a statement today.

KPJ added that its Malaysia segment, Indonesia segment and its aged care facility segment had all posted higher revenue for the cumulative period.

Revenue for the quarter rose 16% to RM657.1 million from RM565.2 million a year earlier. The healthcare group’s earnings per share (EPS) was higher at 2.83 sen, compared to 1.62 sen in the year before.

For the nine months to Sept 30, net profit climbed 33% to RM93.1 million from RM69.8 million in the year before, while revenue rose 13% to RM1.92 billion from RM1.70 billion.

Going forward, KPJ said it is confident to achieve better performance in its current financial year, based on positive economic prospects and increasing demand for healthcare.

“Continued public awareness about the importance of healthcare will further support the group’s core strategy in increasing and enhancing the capacity and improve service delivery for our patients within the network of KPJ hospitals,” it said.

KPJ share price fell five sen to RM3.85, translating to a market capitalisation of RM3.90 billion.