KPJ posts slide in 2Q net profit to RM12.66mil

  • Corporate News
  • Thursday, 27 Aug 2020

KUALA LUMPUR: KPJ Healthcare Bhd registered a 69.74% slide in net profit to RM12.66mil in the second quarter ended June 30, 2020, as compared to RM41.83mil in the previous corresponding quarter due to business disruption from the movement control order.

Revenue for the quarter under review fell 27% to RM626.6mil versus RM860.3mil in the same quarter last year as the ensuing lockdown resulted in a decline in patient episodes and daily bed occupancy rates (BOR), it said in a filing with Bursa Malaysia.

"During the lockdown period all elective procedures were postponed or delayed and hospitals were focusing on the critical and life-threatening cases hence the average BOR for three months period in second quarter 2020 was at 34%, a significant decrease as compared to 64% for the same period ended 30 June 2019," it added.

However, the group sounded an optimistic note as BOR has rebounded 39% since the loosening of restrictions following the recovery movement control order phase on June 10.

In Malaysia operations, revenue declined 27% y-o-y to RM598mil from RM820.4mil a year ago while pre-tax profit fell 62% to RM21.8mil.

Ebitda stood at Rm106.7mil, or 23% lower than in the previous corresponding period.

"The decrease was contributed by the decline in revenue while fixed costs remained, and additional expenses incurred since the outbreak, such as costs of personal protective equipment for the frontliners, COVID-19 test kits and other consumable items," said KPJ.

In the "others" segment, revenue was recorded at RM28.7mil for the quarter under review, a 28% decline from RM39.8mil in the same quarter last year.

The segment posted a pre-tax loss of RM2.9mil versus pre-tax profit of RM5.5mil previously.

Ebitda stood at RM5.3mil, which was a 61% lower than RM13.5mil during the same quarter in 2019.

Moving forward, the group said it will continue with its core services and add on new areas of service such as telemedicine and home visits while educating the public on the public on standard operating procedures at its healthcare facilities to manage the Covid-19 risk.
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