August 12, 2014 / 8:46 AM / 3 years ago

UAE's Al Noor profit jumps on outpatient treatments

ABU DHABI, Aug 12 (Reuters) - Al Noor Hospitals reported a 79 percent jump in first-half net profit, as the United Arab Emirates healthcare firm treated more out-patients.

Net profit rose to $44.5 million on revenue up 25 percent to $224.8 million, the company said on Tuesday.

Al Noor added 31 physicians during the first six months which enabled the group to treat more patients who did not need an overnight stay in hospital, out-going Chief Executive Kassem Alom said in a statement. Outpatient volumes rose 20 percent from the previous year.

Alom said the London-listed company expects to meet its target of an additional 70-80 physicians in 2014.

“We remain on track to deliver strong growth through our physician hiring programme and the opening of three medical centres,” Alom said.

Alom will be replaced by Ronald Lavater later this year, the company announced last week.

The board proposed an interim dividend of 3.7 pence per share, to be paid on Oct. 10, its first half-yearly payout to shareholders.

Al Noor says it has the biggest market share among private health-care services providers in Abu Dhabi, capital of the UAE, for both outpatients and inpatients. (Reporting By Stanley Carvalho; Editing by Praveen Menon and Erica Billingham)

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