KUALA LUMPUR (Feb 17): KPJ Healthcare Bhd’s net profit jumped more than three-fold to RM72.09 million in the fourth quarter ended Dec 31, 2022 (4QFY2022), from RM20.33 million a year ago, on improved hospital activities.

The healthcare group’s latest quarterly earnings is the highest since it reported a net profit of RM84 million for 4QFY2019.

Earnings per share expanded to 1.66 sen in 4QFY2022 from 0.47 sen previously. Quarterly revenue grew 14.7% to RM780.94 million from RM680.78 million a year before.

The improved performance was supported by more hospital activities, evidenced by the increase in patient visits (increased to 820,734 patients from 780,221 patients) and bed occupancy rate (improved to 64%, versus 46%).

It declared a single tier interim dividend of 0.6 sen per share, to be paid on April 14 with an ex-date on March 20.

For the full-year ended Dec 31, 2022 (FY2022), KPJ’s net profit soared 214% to RM171.99 million from RM54.79 million, as revenue increased to RM2.92 billion from RM2.59 billion during the same period.

Reviewing its performance for FY2022, KPJ said the group delivered sterling performance and results as the transition into endemicity and re-opening of international borders has contributed positively to the increase in economic activities.

“The group has seen a resurgence in overall healthcare services throughout its network of hospitals. The current year results show that the group has exceeded its pre-pandemic performance,” it added.  

Moving forward, KPJ said the group is optimistic on the outlook of the healthcare industry as it moves beyond the pandemic phase in 2023.

“The global economic recession and inflationary pressures may pose some downside risks to demand and costs. However, the group remains focused on improving its operational efficiency and expanding its existing capacities as it strives to deliver excellent patient care, contributing to a better customer experience.

“The turnaround in the health tourism sector presents an upside which the group is well-positioned to leverage on as Malaysia remains a top medical tourism destination in Asia,” it concluded.  

At market close, KPJ shares closed unchanged at RM1.06. This values the group at RM4.78 billion.