Cleopatra Hospitals Group grows bottom line 45% y-o-y in 3Q2017
EARNINGS WATCH- Cleopatra Hospitals Group’s net profit rose 45% y-o-y to EGP 32 mn in 3Q2017, the company said in its earnings release issued overnight (pdf). Revenues came in 38% higher y-o-y at EGP 293.2 mn, “driven by both higher patient volumes and improved pricing.” Cleopatra Hospital was the largest contributor to Group revenues for the quarter with 43% of the total, followed by Cairo Specialised Hospital with 22%, Nile Badrawi with 18%, and Al Shorouk with 17%. “The quarter just ended saw us extract higher value from services across the board while staying true to our commitment to focus on patient safety and quality of outcomes,” Group CEO Ahmed Ezzeldin said.
Acquisitions in the offing: “In parallel, we continue to make headway in our expansion strategy; several platform additions to expand our network are soon to reach financial close or are in advanced due diligence stages,” Ezzeldin added.