Friday 29 Mar 2024
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KUALA LUMPUR (Feb 29): KPJ Healthcare Bhd's net profit fell 51% to RM24.58 million in the fourth quarter ended Dec 31, 2015 (4QFY15), from RM49.94 million a year earlier, on lower revenue and higher finance cost.
 
According to hospital operator KPJ's filing to Bursa Malaysia today, revenue was down at RM694.2 million, from RM716.49 million. KPJ's income statement showed net finance cost rose substantially to RM12.14 million, from RM648,000.

"The profit before tax for the 3 months ended 31 December 2015 was recorded at RM44.3 million, a decrease of 37% from RM70.1 million in 2014.

"The decrease of RM25.8 million was due to additional provision for employee share option scheme (ESOS) and restricted issue to hospital consultants based on an independent valuation at financial year end, in accordance with requirement of MFRS 2 (Malaysian Financial Reporting Standards 2) in the current quarter," KPJ said.

For FY15, KPJ’s full-year net profit was lower at RM132.63 million, from RM143.03 million a year earlier. Revenue rose to RM2.82 billion, from RM2.64 billion.

For FY16, the group said revenue growth from new and existing hospitals would improve. KPJ is, however, mindful that most new hospitals will go through an average gestation of between three and five years.

“In light of the challenging economic environment, the group expects to deliver a moderate performance growth,” said KPJ.

At 12:30pm today, KPJ shares fell one sen or 0.2% to settle at RM4.34, for a market capitalisation of RM4.51 billion. The stock saw 3.23 million shares traded.

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