IHH Healthcare has reported earnings of RM2.7 billion for its FY2024, down 10% over the preceding year ended Dec 31 2023 in the absence of one-off gains from divestments of some RM989 million booked in FY2023.
Without which, the healthcare giant's bottom line jumped by 32% y-o-y to RM1.7 billion, on the back of a 16% increase in revenue to RM24.4 billion.
The company plans to pay a second and final dividend of 5.5 sen per share, bringing total payout for FY2024 to 10 sen.
In the most recent 4QYF2024, earnings, if excluding the distortion from the disposal gains, was up 19% y-o-y.
In FY2024, IHH Healthcare added nearly 1,000 beds and is on track to further increase its capacity so that it can generate more growth in the coming years.
Besides adding new beds, the company is undertaking extensive refurbishments at its hospitals such as Mount Elizabeth
Hospital in Singapore where works are slated to be completed ahead of schedule by Q3FY2025.
"Going forward, IHH will continue to drive high-value, cost-effective care for our patients by improving clinical outcomes and patient experience," says group CEO Dr Prem Kumar Nair.
"The favourable secular trends in our key markets provide strong tailwinds for our continued growth. We are confident in strengthening our position as a global healthcare leader while delivering healthy returns to our shareholders," he adds.
IHH Healthcare's SGX-quoted shares closed at $2.15 on Feb 27, down 2.27%.
