Health Management International profit surges 119% to $3.4m in Q4

It managed to deliver despite slowdown from Hari Raya festivals.

Health Management International (HMI) managed through a fasting month after its profit surged by 119% to $3.4m (RM10.7m) in Q4.

According to UOB KayHian, its headline profit increased a mere 3% to $6.5m (RM20.6m) due to non-recurring items such as forex losses, professional fees and other costs related to the consolidation transaction.

Full-year revenue grew 10% to $138.4m (RM435.8m),
thanks to a rise in patient load and revenue intensity growth.

Here's more from UOB KayHian:

We note that the group experienced two Hari Raya festivals in FY17 (16 July and 17 June), where patients usually tend to delay more complex procedures due to the fasting month.

Despite this, the group still managed to deliver a commendable 9% yoy and 4% yoy increase in patient load in 1QFY17 and 4QFY17 respectively.

Separately, we expect a strong 1QFY18, given patients who delayed procedures during the fasting month of June also tend to return in July.