29th Oct 2013 11:23
LONDON (Alliance News) - NMC Health PLC Tuesday reported higher third quarter revenues as demand for specialist clinical services continued to increase in its hospitals and its medical products distribution division also continued to grow.
The private healthcare operator in the United Arab Emirates said revenues rose to USD136.5 million in the three months to end-September, from USD123.4 million a year earlier, as revenues at its healthcare unit rose 12.3% and revenues at its distribution unit grew 8.4%.
Occupancy levels at its private clinics rose to 60.2%, from 59.4% a year earlier, despite a 13.5% increase in capacity.
"Higher occupancy across a greater capacity of beds and an increased mix of specialist procedures continue to drive growth in the Healthcare division," Chief Executive Bavaguthu Shetty said in a statement. "The growth in the Distribution division is a result of the introduction of new product lines, improved sales and merchandising and continuing strong macro-economic conditions in the UAE."
It said trading since the end of the third quarter has continued in line with the company's expectations.
NMC Health shares were up 0.9% at 358 pence in London Tuesday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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