KPJ Healthcare reports 4Q earnings of Rm73mil

Patient, surgery and occupancy numbers also rise

“This year will see us implementing innovative growth strategies to deliver sustainable value and strengthen our market position.” Datuk Md Arif Mahmood

KUALA LUMPUR: KPJ Healthcare Bhd is expecting more patients this year, supported by an increase in new beds and services as well as the hiring of new consultants.

The healthcare group said it also intends to capitalise on the growth in the health-tourism sector, which is expected to exceed Rm2bil in revenue in 2024.

Datuk Md Arif Mahmood, chairman of KPJ Healthcare, said the healthcare-service provider will continue to focus on improving performance, especially in 2024.

“This year will see us implementing innovative growth strategies to deliver sustainable value and strengthen our market position. The admission of our two hospitals – KPJ Damansara Specialist Hospital and Damansara Specialist 2 – as members of the Mayo Clinic Care Network is just one of the exciting high-value-based initiatives that we are working on,” Md Arif said in a statement yesterday.

In the fourth quarter ended Dec 31, 2023, (4Q23) KPJ posted a net profit of Rm73.39mil, up from the net profit of Rm63.41mil in the same quarter in 2022.

Earnings per share (EPS) for the period rose to 1.68 sen against 1.46 sen in the previous corresponding quarter.

Revenue rose year-on-year to Rm911.46mil for 4Q23 as patient visits increased by 4% to 857,537, along with an increase in surgery cases by 6%, while its bed occupancy rate grew to 69%, the company said in a statement.

KPJ’S board of directors declared an interim dividend of one sen per share, going ex on March 6 and payable on March 29, 2024.

For the full financial year 2023 (FY23), the group’s net profit rose to Rm263.41mil or EPS of 60.4 sen from Rm166.98mil or EPS of 3.84 sen in FY22 while revenue jumped to Rm3.42bil in FY23 from Rm2.87bil in FY22.

According to the group, the higher revenue in FY23 was owing to a 4% year-on-year increase in patient visits to 857,537, supported by a higher number of beds.

The group also saw an 19% increase in inpatient visits in FY23 to 361,987 patients, with bed occupancy rate improving to 67% from 58% in FY22.