• Most Popular
  • Most Shared

Greek medical group Hygeia's 9-month profit up 1.8 pct

Tue Nov 18, 2008 11:22am EST

Stocks

   

ATHENS, Nov 18 (Reuters) - Greek healthcare group Hygeia (HYGr.AT) said on Tuesday its nine-month profit rose 1.8 percent, weighed down by costs related to its expansion abroad.

Hygeia, partly owned by Marfin Investment Group (MIG) (MRFr.AT), made a net profit of 10.5 million euros ($13.26 million).

It said interest expenses of about 18.5 million euros on a 300 million-euro bond issued this year to finance expansion abroad had burdened nine-month results.

Sales more than doubled to 202.8 million euros, after the firm fully acquired Greece's second-largest maternity clinic, Mitera, and two hospitals in Cyprus since late last year.

As part of its expansion strategy, Hygeia has clinched deals to buy two private hospitals in Cyprus and a 50 percent stake in Turkish hospital group Safak.

The company, which has a market capital value of 233 million euros, has said it plans new acquisitions to exploit growing demand for private medical care in the Balkans. (Reporting by Angeliki Koutantou; Editing by Rupert Winchester)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets