KPJ Healthcare posts higher profit of RM179 mil for 2018

KUALA LUMPUR: KPJ Healthcare Bhd’s net profit in the financial year ended Dec 31, 2018 (FY18) increased to RM179.4 million from RM162 million in the previous corresponding period.

Revenue rose to RM3.31 billion from RM3.18 billion previously.

KPJ said the higher revenue was mainly contributed by the increase in the number of patient visits, number of beds and surgeries, particularly for KPJ Rawang, KPJ Pasir Gudang and KPJ Bandar Maharani hospitals, which also recorded high profit during the financial year.

“The group achieved strong financial results for the year 2018 with record high revenue since our inception.

“The growth in revenue and earnings before interest, tax, amortisation and depreciation (Ebitda) was underpinned by solid overall performance.

“Our focus on improvements in operational efficiencies, coupled with strict cost discipline throughout the year, resulted in a positive impact on costs and diluted the effects of cost escalation,” it said in a filing with Bursa Malaysia today.

KPJ said the group’s sterling performance and operational excellence was expected to continue accelerating in 2019 with the opening of more new hospitals and other healthcare facilities.

“The rising cost in healthcare industry will continue to be the group’s main challenge.

“With continuous monitoring over operational excellence and focus on revenue growth, along with disciplined cost management, the group is confident of leading improvements and furthering its vision of becoming the preferred healthcare provider,” it added.

KPJ also declared a 0.5 sen single tier interim dividend per ordinary share to be paid out on April 19, 2019.

At the close of trading today, KPJ dropped one sen to RM1.08 with 6.24 million shares changing hands.