IHH Healthcare - RHB Invest 2024-03-01: Ending The Year With Record High Revenue; Keep BUY

IHH Healthcare - Ending The Year With Record High Revenue; Keep BUY

IHH Healthcare (SGX:Q0F) | SGinvestors.ioIHH Healthcare (SGX:Q0F)
  • IHH Healthcare (SGX:Q0F)'s 4Q23 core profit came off by 28% q-o-q to MYR266m (below expectations) amid a seasonally weaker quarter due to the holiday and festive seasons.
  • We continue to like IHH Healthcare given its reputable regional footprint across key regions, its organic expansion target (+33% bed capacity by 2028), and resilient demand for healthcare services.
  • - Read this at SGinvestors.io -

Results overview.

  • IHH Healthcare's FY23 full-year core earnings came in at 91% and 79% of our and Street’s estimates, which we deem as below expectations, no thanks to increases in staff and utilities costs, and a weakening TRY.
  • - Read this at SGinvestors.io -
  • In 2023, IHH Healthcare’s operational beds grew to 12,307 (2022: 11,881 beds). Group bed occupancy rate (BOR) contracted slightly (69% vs 2022’s 70%).

Segmental breakdown.

  • Read more at SGinvestors.io.

Oong Chun Sung RHB Securities Research | https://www.rhbgroup.com/ 2024-03-01

Read also RHB's most recent report:
2024-05-30 IHH Healthcare - Earnings Supercharged By Strong Operating Stats; BUY.

Previous report by RHB:
2024-03-05 IHH Healthcare - Thriving In All Regions; Keep BUY.

Price targets by other brokers at IHH Healthcare Target Prices.

Listing of research reports at IHH Healthcare Analyst Reports.

Relevant links:
IHH Healthcare Share Price History,
IHH Healthcare Announcements,
IHH Healthcare Dividends & Corporate Actions,
IHH Healthcare News Articles


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