IHH Healthcare has announced a robust financial performance for the fiscal year 2024, achieving double-digit growth in revenue, EBITDA, and profit after tax and minority interests (PATMI), excluding exceptional items. The healthcare giant’s success was attributed to increased patient volumes, operational efficiencies, and strategic acquisitions, including Island Hospital and Timberland Medical Centre.
The company’s revenue for the year reached MYR 24.4 billion, a 16% increase from the previous year, whilst Q4 2024 alone saw a 26% rise to MYR 6.7 billion. Despite a lower headline PATMI due to the high base effect from one-off gains in 2023, IHH maintained a PATMI margin of 9% with capital expenditure amounting to MYR 3.9 billion.
IHH declared a final cash dividend of 5.5 sen per share, bringing the total ordinary dividend for FY2024 to 10.0 sen per share, up from 9.0 sen in FY2023. This reflects a payout ratio of 40% of PATMI, surpassing the revised dividend policy requirement of 30%.
Group CEO Prem Kumar Nair highlighted the company’s commitment to growth and patient care, stating, “Our tireless efforts to grow our business, deliver optimal outcomes for our patients, and increase operational efficiencies across key markets have yielded results.” He also noted the addition of nearly 1,000 beds and ongoing renovations at Mount Elizabeth Hospital in Singapore, expected to complete by Q3 2025.
Looking ahead, IHH plans to continue enhancing clinical outcomes and patient experiences, leveraging favourable market trends to strengthen its position as a global healthcare leader.
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