KUALA LUMPUR (May 26): KPJ Healthcare Bhd saw its net profit in the first quarter ended March 31 (1QFY22) grow by 71% to RM22.19 million from RM12.98 million reported in the same period last year as inpatient visits and bed occupancy rate increased in the current quarter.

Its Bursa Malaysia filing showed on Thursday (May 26) that earnings per share rose to 0.51 sen from 0.3 sen.

Quarterly revenue increased by 7.44% to RM651.02 million compared with RM605.94 million, due to higher contribution from its Malaysian and other operations.

The group also declared an interim dividend of 0.25 sen per share, to be paid on July 29.

On a quarterly basis, the healthcare group’s net profit surged by 20.2% from RM18.46 million registered in the immediate preceding quarter (4QFY21) while revenue came in lower by 5.5% from RM689.1 million in 4QFY21.

Meanwhile, the group foresees continued growth in healthcare demand, on the back of rising healthcare awareness and as more countries enter the endemic stage.

“A resurgence in elective medical procedures and recovery of the health tourism sector is also expected in the current year.

“In FY22, the Group is focused on improving efficiencies and turning around its hospitals and investments through the implementation of its transformation plans and cost optimisation strategies.

“In tandem with prioritizing patient care by leveraging on digital technology for the provision of quality and affordable healthcare, the Group is also on the lookout for viable investments to expand its capabilities in preventive care and wellness to complement its existing services,” it shared.

Shares in KPJ finished one sen or 1.1% higher at 92 sen, giving it a market capitalization of RM4.12 billion.