HEALTHCARE provider KPJ Healthcare Bhd saw its net profit ease to RM38.53 mil in the first quarter ended March 31, 2020 from RM39.13 mil in the same period a year earlier.
It attributed the weaker earnings mainly to hospitals such as KPJ Bandar Dato’ Onn, KPJ Batu Pahat, KPJ Perlis and KPJ Miri, which remained as loss-making companies.
Revenue for the quarter was slightly higher at RM884.16 mil from RM880.99 mil year-on-year driven by higher activities at the hospitals, mainly from the Malaysia segment, it said in a filing to Bursa Malaysia today.
The revenue increase in the Malaysia segment to RM844.6 mil from RM839.3 mil in 1Q19 was mainly contributed by additional capacity in existing hospitals, particularly KPJ Seremban and KPJ Ampang Puteri, with the opening of the new buildings, as well as KPJ Batu Pahat and KPJ Miri beginning operation.
It related how additional expenses had to be borne following the Covid-19 outbreak through purchases of materials, personal protection equipment for frontliners, ventilator machines, thermo scanners, surgical masks and hand sanitisers.
KPJ Healthcare said the net cash generated from operating activities was RM91.9 mil, down 33% from the same period last year at RM137.4 mil, mainly due to the decline in profit reported for the period. – June 10, 2020
