KUALA LUMPUR, Aug 29 — IHH Healthcare Bhd’s net profit for the second quarter ended June 30, 2023 (2Q FY2023), slipped to RM301.83 million from RM612.10 million recorded in the same period last year.
Revenue rose to RM4.67 billion from RM4.37 billion previously, the group said in a filing with Bursa Malaysia today.
IHH Healthcare said the higher revenue was driven by more patients, accompanied by higher revenue intensity across its markets.
“The group expects continued revenue and return on equity (ROE) growth and will maintain a tight rein on costs and leverage operational synergies to mitigate inflationary and interest rate pressures,” it said.
For the first half ended June 30, 2023 (1H FY2023), the group recorded a higher net profit of RM1.69 billion against RM1.11 billion recorded in 1H FY2022 while revenue jumped to RM9.82 billion from RM8.54 billion previously.
In a separate filing, the group declared an interim dividend of 3.5 sen per ordinary share for FY2023, to be paid on October 27, 2023.
The group also announced the appointment of Dr Prem Kumar Nair as IHH group chief executive officer (CEO), effective October 1, 2023, while its group chief operating officer Joe Sim has decided to step down to return to public service.
Dr Nair is currently IHH Healthcare Singapore CEO, a position he held since April 2020. He successfully led Singapore operations throughout the Covid-19 pandemic. He continues to be IHH Singapore CEO until September 30, 2023. — Bernama
