NMC reports 18.4 per cent increase in four-month revenue
NMC Health reported an 18.4% jump in revenue to $166.4m during the first four months of this year
Dubai NMC Health Plc, a leading integrated healthcare provider operating across the UAE, reported an 18.4 per cent increase in its revenue to $166.4 million during the first four months of the current year, up from $140.4 million reported for the corresponding period last year.
Revenue in the healthcare division increased 22.3 per cent to $84.1 million on a year on year basis, reflecting an increase in occupancy levels and outpatients in all facilities.
Revenue in the distribution division increased 14.7 per cent to $82.3 million on a year on year basis primarily from the introduction of new products into our portfolio in 2012.
“The capital projects that were set out in the company’s IPO Prospectus are progressing as planned and on budget,” the company said in a statement. “NMC traded in line with the board’s expectations and continued to demonstrate robust performance at both group and divisional level.”
The company has drawn down $120.0 million of its JP Morgan loan facility to date. Net cash as at 30 April 2012 was $282.4 million.
Dr B.R.Shetty, Chief Executive Officer, commented: “We are very pleased with our good performance so far this year in both our Healthcare and Distribution divisions. The increase in occupancy is a testament to the hard work of all our staff in making patient care their primary responsibility.
In relation to the expansion plans of the group, all capital projects being undertaken are continuing as planned and on budget.
“At this early stage of the year we continue to trade in line with the Board’s expectations for 2012,” he said.
