IHH Healthcare Bhd Reports Resilient Q3 2024 Performance

IHH Healthcare Bhd ( (IHHHF) ) has released its Q3 earnings. Here is a breakdown of the information IHH Healthcare Bhd presented to its investors.

IHH Healthcare Bhd, a leading private healthcare group in Malaysia, spans across multiple countries providing hospital and healthcare services, with a unique position in the sector owing to its extensive network and diverse geographical footprint.

In its latest earnings report for the third quarter ending September 30, 2024, IHH Healthcare Bhd revealed a slight year-over-year decline in revenue for the quarter, attributed primarily to unfavorable foreign exchange movements and adjustments for hyperinflation in Turkey. Despite these challenges, the company reported sustained demand for its services and managed to increase its revenue for the year-to-date period, demonstrating resilience in a volatile economic environment.

Key financial metrics highlighted in the report include a modest 2% increase in quarterly profit while year-to-date profit saw a 10% decline, affected largely by higher operating costs and reduced gains from asset disposals compared to the previous year. The company’s staff costs rose significantly due to capacity expansion and annual increments, and there was an increase in depreciation expenses due to new investments and higher inflation in Turkey. Finance income improved significantly due to better management of foreign exchange exposures, while finance costs saw a marginal increase.

Looking forward, IHH Healthcare Bhd’s management remains cautiously optimistic. They aim to continue leveraging their broad network and strategic investments to enhance service delivery and operational efficiency. The company is poised to navigate the complexities of currency fluctuations and inflationary pressures while maintaining its growth trajectory and commitment to providing quality healthcare services across its markets.