KPJ 2Q net profit triples
Healthcare group on expansion trail
“Our unwavering commitment to provide best-in-class healthcare services through the utilisation of advanced technologies will be core to our strategic growth plans.” Datuk Mohd Shukrie Mohd Salleh
PETALING JAYA: KPJ Healthcare Bhd is on the lookout for viable investments to expand its capabilities in preventive care and wellness to complement its existing services.
The healthcare group, controlled by Johor Corp, is confident there will be continued growth in demand for healthcare services, moving forward, supported by the increasing mental and physical healthcare awareness, as well as the shifting of the healthcare focus from hospitalisation towards preventive care.
“A strong resurgence in elective medical procedures and recovery of the health tourism sector is also expected to bode well for the company’s prospects,” KPJ’S president and managing director Datuk Mohd Shukrie Mohd Salleh said in a statement yesterday.
KPJ added it remains committed to patient care by leveraging digital technology for the provision of quality and affordable healthcare.
The group will soon be unveiling its latest addition in its network of hospitals, KPJ Damansara Specialist Hospital 2 on Sept 1, 2022.
The 300-bed tertiary care facility will be equipped with the latest connected healthcare technology and 600 consultant specialists from KPJ Klang Valley hospitals.
The hospital is set to redefine the healthcare ecosystem, catering to both local and international patients, it said.
KPJ yesterday announced its second quarter ended June 30, 2022 (2Q22) results, which saw its net profit more than tripling to Rm27.1mil from Rm6.96mil in 2Q21 while revenue rose close to 12% year-on-year (y-oy) to Rm707.57mil.
Basic earnings per share stood at 0.63 sen for the quarter. KPJ has declared a third interim dividend of 0.55 sen per share, which is its highest payout to date.
The said dividend with a total aggregate payout of Rm24.8mil will be paid to shareholders on Oct 21, 2022 and go-ex on Sept 29.
KPJ said in its statement that earnings before interest, taxes, depreciation and amortisation grew by 37% y-o-y to Rm159.7mil, driven by in-patient visits which increased to 802,840 from 758,629 in 2Q21 as its bed occupancy rate grew to 54% in the quarter from 41% in the same quarter of last year.
For the second half of financial year 2022, KPJ remains focused on improving the efficiencies, quality and productivity of its hospitals and investments through the implementation of its transformation plans and cost-optimisation strategies.
“Our unwavering commitment to provide best-in-class healthcare services through the utilisation of advanced technologies will be core to our strategic growth plans.
“We are nevertheless cognisant of the impact of global inflationary trends, coupled with the emergence of more resilient Covid19 variants and volatility in supply chain networks.
“We are confident that we are well positioned to capture the strong demand for our services, coupled with the emerging opportunities along the value chain to deliver sustainable growth for our shareholders,” said Mohd Shukrie.