KUALA LUMPUR: KPJ Healthcare Bhd's net profit surged 71 per cent to RM22.19 million in the first quarter (Q1) ended March 31, 2022 from RM12.98 million recorded in the same quarter last year.
In a statement today, the private healthcare services provider said this was supported by its prudent and proactive measures to manage operating costs and preserve margins against the challenging backdrop of the ongoing Covid-19 pandemic.
In Q1, KPJ's revenue increased 7.4 per cent to RM651.02 million from RM605.94 million.
As a result of this strong performance, the company declared a second interim dividend of 0.25 sen per share, with a total aggregate payment of RM11.3 million, to be paid to the shareholders on July 29.
"Our Q1 results are a testament to the continued recovery of the Malaysian economy as we transition into the endemic phase," president and managing director Datuk Mohd Shukrie Mohd Salleh said.
KPJ is optimistic that prospects will improve as the country pivots to living with and adapting to Covid-19, in addition to the re-opening of international borders and the expected revival of the medical tourism industry.
"In the quarter under review, we delivered improved revenue generated mainly due to better operational performance which was supported by an increase in patient visits," he said.
Mohd Shukrie said the company was focused on driving resilient growth by capturing opportunities for its ancillary business through key areas such as advanced diagnostics, precision medicine, genomics, and ambulatory care.
"To further enhance profitability, we are implementing transformative strategies to shorten the gestation period of new hospitals and divesting non-profitable business lines.
"Alongside strengthening our operational excellence underpinned by the acceleration of our digital transformation and technology solutions, we are confident that the strategic direction we have put in place will propel KPJ forward and unlock value creation opportunities for shareholders," he added.