12th May 2015 06:55
LONDON (Alliance News) - Al Noor Hospitals Group PLC Tuesday said it had continued to perform in line with its expectations in the first quarter of 2015, with revenue growth of 12%, and announced the resignation of Chief Financial Officer Pramod Balakrishnan.
The United Arab Emirates-focused private healthcare service provider said that Balakrishnan has resigned to pursue an unspecified alternative opportunity, and will leave the company at the end of July. The search for a successor has begun, it said.
During the quarter to end-March, the company posted revenue of USD124.9 million, up 12% from USD111.6 million a year before.
Al Noor's new medical centre at the Emirates Nuclear Energy Co power plant has started trading, and is contributing to volume growth, Al Noor said. It also continues to make progress with its new medical centres in Sharjah, Abu Dhabi City and Al Ain, and said it expects to open them in the second half of the year.
"Our business for the first quarter has been in line with management's expectations and we continue to make good progress moving forward with our key initiatives to deliver sustainable returns and take advantage of our high-growth home market of Abu Dhabi," said Chief Executive Officer Ronald Lavater in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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