KUALA LUMPUR, Feb 26 (Reuters) - Malaysia’s IHH Healthcare Bhd, Asia’s largest hospital operator, said on Tuesday fourth quarter net profit jumped more than three-fold from a year earlier to 195.86 million ringgit ($63.20 million).
The improved performance was mainly due to consolidation of profits from Turkey’s Acibadem Holdings and improved performance in existing operations, the company said in a stock exchange filing.
Revenue rose 79.1 percent to 1.52 billion ringgit from 847.99 million ringgit from a year earlier. The result was slightly lower than a 204.54 million ringgit profit forecast by an analyst according to Thomson Reuters I/B/E/S.
Net profit for the full year rose 114 percent to 798.89 million ringgit. Revenue climbed 109.7 percent year on year, according to the filing. The average forecast in a Thomson Reuters I/B/E/S poll of 16 analysts was for a full-year profit of 531.7 million ringgit.
IHH has in the past few years added Acibadem, Singapore’s Parkway Holdings and India’s Apollo Hospitals Enterprise Ltd to its local holdings Pantai Hospitals and International Medical University.
Its shares closed unchanged at 3.41 ringgit per share on Tuesday while the Malaysian benchmark stock index dropped 0.19 percent.
$1 = 3.0990 Malaysian ringgits Reporting By Yantoultra Ngui; Editing by Jeremy Laurence