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Cleopatra Hospitals Group Reports FY2017 Results

06 Mar 2018

Cleopatra Hospitals Group Reports FY2017 Results

Cleopatra Hospital Group S.A.E. (CLHO.CA on the Egyptian Exchange), Egypt’s largest private hospital group by number of hospital beds and number of operating hospitals, reported today its consolidated results for year ending 31 December 2017, recording revenues of EGP 1,126.8 million, up 30% y-o-y. Top-line growth for the year came as patient volumes continued to rise thanks to the Group’s reputation for patient safety and quality of outcomes, and was also supported by improved case mix and pricing. The Group’s efforts in the way of platform integration and extracting operational efficiencies saw net profit for the year record a 32% y-o-y increase to EGP 118.2 million, with net profit margin stable at 10% despite severe inflationary pressures on the Group’s cost base. On a quarterly basis, Group net profit recorded EGP 33.6 million in 4Q17, down 8% y-o-y were 4Q16 did not include payments made under the Long-Term Incentive Plan (LTIP). Revenues for the quarter recorded EGP 309.6 million in 4Q2017, a 30% growth over the same period last year.

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