KUALA LUMPUR (Aug 30): KPJ Healthcare Bhd's net profit dipped 1.2% to RM41.83 million for the three months ended June 30, 2019 (2QFY19) from RM42.34 million a year ago on higher losses from its discontinued Australian operations.

Earnings per share likewise dipped to RM1 from RM1.01 in the corresponding period last year.

The lower net profit was despite revenue rising 5.74% to RM847.31 million during the quarter from RM801.33 million on the stronger performance of its various geographic segments, according to the group's bourse filing.

Revenue from Malaysia rose by 6% to RM820.4 million in 2QFY19, thanks to more patient visits and surgeries, especially in KPJ Rawang, KPJ Pasir Gudang and KPJ Johor.

Meanwhile, newly-opened hospitals KPJ Perlis and KPJ Bandar Dato' Onn also boosted revenue, as did more activities at supporting companies.

Abroad, its Indonesian operations were largely to thank for revenues jumping 13% to RM26.9 million from RM23.7 million a year ago.

However, in Australia, revenue from its Jeta Gardens (Qld) Pty Ltd aged care operations fell by RM1.8 million to RM13 million as average residential occupancy levels fell by 8% to 88% in the corresponding quarter.

KPJ attributes the lower occupancies to higher competition from newer facilities surrounding Jeta Gardens.

The group is in the midst of hiving off its aged care business in Australia, which has been in a net total liability position of RM20.5 million since June 30, and expects to complete the exercise this year.

Meanwhile, KPJ has declared a single tier interim dividend of 0.5 sen per share with an entitlement date of Sept 24.

For the first half ended June 30, 2019, net profit slipped to RM80.93 million from RM84.82 million in the year-ago period. Revenue, however, rose to RM1.72 billion from RM1.62 billion previously.

On prospects, the group said it is optimistic that its performance in 2019 will continue to improve.

The group's share price at 3.38pm was 91 sen, up 2.25% or 2 sen.