30th Mar 2015 06:58
LONDON (Alliance News) - Abu Dhabi-based healthcare provider Al Noor Hospitals Group PLC on Monday said its pretax profit and revenue both rose in 2014 as the group further expanded its operations.
Al Noor said its pretax profit rose to USD83.9 million from USD61.5 million in 2013, with revenue increasing 23% to USD449.1 million from USD365 million.
The FTSE 250-listed company said outpatient volumes rose to around 2 million in 2014, up from 1.7 million a year earlier, while inpatient volumes also increased to 42,033 from 40,475.
It opened three medical centres in Abu Dhabi in 2014, with four more openings planned for 2015, one of which is now operational. It also acquired the Gulf International Cancer Centre, the only private cancer treatment centre in Abu Dhabi, and said the construction of a new 40-bed hospital in Al Ain was on schedule to be opened in 2016. It is also expanding capacity at the Airport Road Hospital.
The group said it will increase its final dividend to 9 pence per share for the year, making its total dividend payout 12.7 pence per share, up 32% year-on-year.
"Al Noor's financial performance continues to be strong and we achieved good growth during 2014. This growth was driven predominantly by our increased outpatient capacity, the expansion of our network of medical centres and the impact of medical centre acquisitions," said Ronald Lavater, Al Noor's Chief Executive Officer.
By Sam Unsted; [email protected]; @SamUAtAlliance
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