NMC Health, the integrated healthcare provider focused on the United Arab Emirates, says revenues grew in the first half of 2012, during which it achieved a premium listing on the London Stock Exchange.
Total revenues from the hospitals, pharmacies and veterinary services it provides were $238m, an 8.4% rise on the same period of 2011.
Profits before tax were $27.5m versus the $22.8m seen in the prior year. Occupancy at its four hospitals rose from 51.6% to 60.3%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely 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
NMC is also investing heavily, with a $70m maternity hospital set to open in Abu Dhabi in December. Total capital expenditure in the first half was $37.1m.
NMC's Chief Executive, Dr B R Shetty, said: "Our expansion plans are progressing well and we are excited about our new facilities, in particular the opening of our new maternity hospital expected in the second half of this year.
The market was impressed with the group's first set of results since the IPO in April. At 8:16 the stock was up 4.4%, although since launch, NMC shares have still fallen 12.8%.
BS
-
Saba Capital and Boaz Weinstein respond to investment trustsAs investment trust managers and industry experts accuse Saba of self-motivated opportunism, the hedge fund responds to specific "misleading claims" and sets out its stall
-
How to find top-quality companies with growing dividendsIan Mortimer, portfolio manager of Guinness Global Equity Income Fund, shares where he would put his money for sustainable and growing dividends
