IHH Healthcare in the red for Q4

PETALING JAYA: IHH Healthcare Bhd swung into the red in the fourth quarter ended Dec 31, 2016, registering a net loss of RM42.51 million against a net profit of RM415.83 million in the previous corresponding period, due to provisions for impairment and unrealised foreign exchange losses.
Revenue, however, rose 14.7% from RM2.29 billion to RM2.63 billion, underpinned by organic growth at existing operations and contribution from hospitals opened in 2015.
The group has proposed to declare a first and final dividend of 3 sen per share for the quarter under review.
In a filing with the stock exchange, IHH said it is confident that its strong brands and network of hospitals, backed by its strong balance sheet and operating cash flows, will enable it to tide through the challenging operating environment expected for the year ahead.
IHH’s full-year net profit contracted 34.4% from RM933.9 million to RM612.35 million on the back of an 18.5% rise in revenue from RM8.46 billion to RM10.02 billion.