IHH share price down 3.83% this morning

PETALING JAYA: IHH Healthcare Bhd's share price fell 3.83% this morning after its net profit plummeted 87.82% to RM57.24 million in the first quarter ended March 31, 2018 against the RM470.05 million recorded a year ago.
IHH, which is having its AGM today, stood at RM6.02 at 10.36am, on 2.93 million shares changing hands.
The weaker earnings was due to foreign exchange losses from the weakened greenback and the incremental depreciation, amortisation and finance costs incurred from the opening of the two new hospitals in March 2017, as well as the absence of a one-off disposal gain.
Revenue for the period under review grew 6.34% to RM2.85 billion from RM2.68 billion, driven by organic growth from existing operations, and the continuous ramp up of Gleneagles Hong Kong Hospital and Acibadem Altunizade Hospital, both of which were opened in March 2017.