Cleopatra Hospitals Group (CHG) sees sustained growth in 3Q2021: Cleopatra Hospitals Group’s (CHG) net earnings grew 8% y-o-y to EGP 86.1 mn in 3Q2021, according to the company’s latest earnings release (pdf). This came on the back of 16% growth in revenues to EGP 623.8 mn.

On a nine-month basis: CHG’s net income grew 58% to EGP 288.1 mn on revenues of EGP 1.90 bn, up 38% y-o-y.

This time last year: CHG reported (pdf) a 11% rise in net income to EGP 80 mn in 3Q2020 due to steady growth of revenues, which increased 16% to EGP 535.9 mn.

The group delivered bottom-line growth despite an unfavorable base effect from the same quarter last year, which had a “strong rebound effect following the lifting of covid-19-related restrictions that were in place during the second quarter of 2020.” CHG also saw a rebound in patient volumes at fertility-specialist Bedaya Hospital, where revenues are catching up with “management’s long-term targets,” putting it on track to deliver record revenues over the coming year.

Looking ahead: The company is on track to “deliver on our revenue and profitability targets for the year,” building on strong performance in the first three quarters of the year, said CEO Ahmed Ezzeldin. Cleopatra expects to launch operations at its brownfield project in East Cairo within two years of locking down regulatory clearance, according to Ezzeldin.