IHH Healthcare’s shares rise 9 pct on stellar Q2 performance

KUALA LUMPUR, IHH Healthcare Bhd’s shares rose near nine per cent boosted by a stellar second quarter (Q2) financial year 2021 (FY2021) earnings performance.

At 4.10 pm, the counter added 50 sen to RM6.34, with 18.25 million shares traded.

The stock is also the second top gainer on Bursa Malaysia after Dutch Lady Milk Industries Bhd which increased 66 sen to RM33.42 per share.

The Malaysian-Singaporean private healthcare group’s net profit rebounded to RM483.31 million in Q2 versus a net loss of RM120.64 million in the same period in the previous year as more patients returned to its hospitals for treatments.

Revenue rose to RM4.27 billion from RM2.57 billion previously.

Moving forward, IHH Healthcare said it expected the short-term impact from the resurgence of COVID-19 cases to continue as the pandemic evolved with movement restrictions across countries it operates.

“Our long-term growth trajectory remains solid and we are well-prepared to ride out the pandemic to emerge stronger,” it added.

Source: BERNAMA News Agency