KUALA LUMPUR, Aug 21 (Bernama) -- Bursa Malaysia ended little changed on Friday, as investors remained cautious amid renewed pressure on global bond yields and geopolitical tensions, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.23 points to 1,736.48 compared with Thursday’s close of 1,736.71. The benchmark index opened 0.63 of a point lower at 1,736.08, and fluctuated between 1,733.13 and 1,738.30 throughout the day. On the broader market, losers outpaced gainers 637 to 578, while 571 counters were unchanged, 1,086 untraded and 47 suspended. Turnover decreased to 3.91 billion units valued at RM3.32 billion from 4.28 billion units valued at RM4.01 billion on Thursday.
Revenue Surges 26% on Strong Healthcare Demand, Acquisitions
- IHH Healthcare Bhd (KL:IHH) reported a slight increase in net profit to RM732 million for 4QFY2024, up from RM728 million a year earlier.
- Quarterly revenue jumped 26.5% to RM6.69 billion, fueled by:
- Higher inpatient volumes and revenue intensity from more complex cases.
- The consolidation of Timberland Medical Centre and Island Hospital post-acquisition.
Dividend Payout Increased
- Final dividend declared: 5.5 sen per share, payable on April 28.
- Total FY2024 dividend: 10 sen per share, up from 9 sen per share in FY2023.
- Dividend payout ratio: 40% of profit after tax and minority interests (Patmi), exceeding the 30% policy threshold.
Financial Performance Breakdown
- Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 33% YoY to RM1.4 billion.
- Excluding MFRS 129 effects (hyperinflation adjustments in Türkiye), revenue and EBITDA would have grown 13% and 9% YoY, respectively.
- Cost pressures impacted profitability, with:
- Staff costs up 33% YoY to RM2.59 billion.
- Finance costs surging 38% YoY to RM341 million.
- Depreciation and impairment charges rising 37% YoY to RM372 million.
Full-Year Profit Declines Despite Revenue Growth
- FY2024 net profit fell 10% to RM2.66 billion, impacted by:
- Foreign exchange losses.
- Higher staff and depreciation costs.
- Annual revenue grew 16% to RM24.38 billion, driven by sustained healthcare demand across key markets.
Optimistic Outlook: Expansion Plans and Strategic Growth Priorities
- IHH to add nearly 4,000 new beds over the next four years to meet rising demand.
- Plans to enhance profitability while mitigating inflationary and interest rate risks.
- Focus on high-value, cost-effective healthcare and improving clinical outcomes.
- CEO Dr. Prem Kumar Nair: Confident in strengthening IHH’s position as a global healthcare leader while delivering healthy returns to shareholders.
Stock Performance
- IHH shares closed at RM7.31 on Thursday, gaining one sen.
- Market capitalisation: RM64.35 billion.
- Stock has climbed roughly 17% since August 2024.
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