KPJ Healthcare reports over 3-fold profit jump in 4Q

KUALA LUMPUR: KPJ Healthcare Bhd is optimistic about the outlook of the healthcare industry as it moves beyond the pandemic phase in 2023.

“The global economic recession and inflationary pressures may pose some downside risks to demand and costs. However, the group remains focused in improving its operational efficiency and expanding its existing capacities as it strives to deliver excellent patient care, contributing to a better customer experience.

“The turnaround in health tourism sector presents an upside which the Group is well-positioned to leverage on as Malaysia remains a top medical tourism destination in Asia,” KPJ said in a filing with Bursa Malaysia.

In the fourth quarter ended Dec 31, the healthcare group’s net profit surged more than three-fold to RM72.1mil, or 1.66 sen earnings per share against RM20.3mil, or 0.47 sen a year ago.

Revenue for the quarter rose 14.7% to RM780.9mil from RM680.8mil last year.

KPJ said during the quarter under review, patient visits and bed occupancy rate increased to 820,734 patients from 780,221 patients and 64% from 46% respectively.

For the full financial year ended Dec 31, KPJ posted a net profit of RM171.9mil on revenue of RM2.92bil.

Given its strong FY2022 performance, KPJ Healthcare has declared a first interim dividend for FY23 of 0.6 sen per share, with a total aggregate payment of RM27mil.

The dividend will be paid to the shareholders of KPJ Healthcare on April 14.

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