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UPDATE 1-Russia's MD Medical Group profit up by two thirds
April 8, 2013 / 8:01 AM / in 5 years

UPDATE 1-Russia's MD Medical Group profit up by two thirds

* MDMG’s 2012 net profit up 66 pct

* Revenues up 40 percent

* Dividend payout represents 21 pct of 2012 net profit

MOSCOW, April 8 (Reuters) - Russian private healthcare company MD Medical Group said on Monday it has recommended a $0.13 per share dividend after net profit grew by two-thirds last year.

The dividend represents a fifth of the health clinics and hospital operator’s first net profit reported since the sale of its shares on the London Stock Exchange in October.

MDMG was the first Russian company in the sector to float, raising more than $300 million the London share sale to expand its clinics chain..

The company said its 2012 net profit grew by 66 percent year-on-year to 1.54 billion roubles ($48.72 million) and revenues were up 40 percent to 4.1 billion roubles.

MDMG’s current facilities include a hospital and eight outpatient clinics in Moscow, Perm, St. Petersburg and Ufa, as well as a number of franchised out-patient clinics.

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