- IHH Healthcare’s 2Q23 core earnings were flattish y-o-y at MYR315m, bringing 1H23 numbers to 46% and 40% of our and consensus’ estimates. Weaker-than-expected results were mainly due to higher cost of operations and utilities, as well as increased spending on repairs and maintenance.
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IHH's 1H23 core earnings disappointed
- IHH Healthcare (SGX:Q0F)'s 1H23 core earnings disappointed, due to the consolidation of staff costs for its newly acquired entities, Ortopedia Hospital and Kent Health Group.
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- Hospital revenue across key segments posted positive y-o-y growth, with total hospital and healthcare division revenue growth of 22% and 2% q-o-q. Key drivers were mainly the Turkey and Greater China divisions.
Segmental breakdown.
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