Better results for IHH Healthcare in fourth quarter

“The increase in staff costs was mainly due to the hire of contract employees and additional staff for Covid-19-related services rendered, higher doctors’ salaries for certain groups of doctors whose salaries vary with revenue or services rendered and the provision for market and appreciation bonus for staff,” IHH said

KUALA LUMPUR: IHH Healthcare Bhd’s net profit for its fourth quarter ended Dec 31, 2021 rose to RM453.60mil from RM419.36mil in the previous corresponding period, driven by higher earnings before interest, taxes, depreciation and amortisation (Ebitda).

In a filing with Bursa Malaysia yesterday, the group said the increase in Ebitda was boosted by higher revenue and lower bad and doubtful debt expenses, offset by higher staff costs, higher other operating expenses, reduced government grant income recorded and lower valuation gains on investment properties of its Singapore-listed associate, Parkway Life Real Estate Investment Trust.