NMC Health on target for full year

NMC Health, which provides healthcare services in the United Arab Emirates, said it expected full year results be in line with expectations.

Its trading update said both revenue and profit levels for the year to the end of December were in line with expectations, while its net debt position and cash balance were as projected and capital expenditure remained on budget.

The firm reported work was progressing on its four major capital projects and the costs of each of these remained on budget.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

These include hospitals in Abu Dhabi, Khalifa City and Dubai, as well as the Musaffah Day Patient Centre.

Chief Executive, Dr B.R.Shetty, said NMC's financial position remained good.

"Revenue and occupancy remained strong in the group's operational healthcare facilities during the second half of the year and our Distribution Division growth has continued as expected in the latter part of the second half of the financial year," he said.

"We are excited by the opportunities that we believe will be available to build on the group's good reputation in the UAE, with the opening of three of our four capital projects during the 2013 financial year," he added.

The firm will release its full year results for the twelve months ended 31st December on 26th February 2013.