Full year group revenue rises 10.5 per cent at NMC Health

Group revenue rose 10.5 per cent to 490.1m dollars in the full year to December 31st at NMC Health, the healthcare provider operating across the United Arab Emirates.

Group revenue rose 10.5 per cent to 490.1m dollars in the full year to December 31st at NMC Health, the healthcare provider operating across the United Arab Emirates.

In a financial report for the full year, the group reported that revenue in the healthcare division was up 15% to $251.6m compared with the full year 2011. This was driven principally by occupancy levels, which were up 750 bps to 60.5% compared with the full year 2011.

Distribution revenue was up 7.0% to $271.1m principally driven by continued expansion of product lines.

EBITDA (earnings before interest, tax, depreciation and amortisation) was up 12.9% to $79.6m compared with the full year 2011.

Business highlights for the year included the completed acquisition of BR Medical Suites in Dubai for a cash consideration of $9.0m. The company was also awarded a five year contract to manage the Sheikh Khalifa General Hospital in Umm Al Quwain.

Dr Shetty, Chief Executive Officer of NMC Health, commented: "This has been a pivotal year for NMC Health, and we are proud to have been the first Abu Dhabi-based business to list on the Premium Segment of the London Stock Exchange.

"Our full year results show that we have made strong progress across our existing facilities during 2012. 2013 will again be a year of transformation as we expect to open three of the four capital projects, which we committed to as part of our IPO, and which will help drive our future growth."

NMC Health's share price was up 0.37% to 270p at 12:43 on Tuesday.

MF

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
Four investment trusts for income investors to buy now
Investment trusts

Four investment trusts for income investors to buy now

Some high-yielding listed lending funds have come through the crisis with flying colours. David Stevenson picks four of the best.
12 Apr 2021
Central banks are rushing to build digital currencies. What are they, and what do they mean for you?
Bitcoin

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?

As bitcoin continues to soar in value, many of the world’s central banks are looking to emulate it by issuing their own digital currencies. But centra…
8 Apr 2021