Lower inpatient admissions seen across private hospitals: Hemas
View(s):Hemas Group has recorded earnings of Rs.3.billion, a 36.3 per cent growth in consolidated earnings for the (third) quarter with revenue increasing by 6.4 per cent to Rs.33.2 billion and operating profit increasing by 25.7 per cent to Rs.4.9 billion.
The company in a statement by its CEO Ravi Jayasekera said that in the healthcare sector while the hospital segment saw its outpatient revenue steadily increasing, the inpatient revenue experienced a decline due to lower admissions, which was a trend observed across the market.
He said revenue growth was evident across all sectors, as the group’s businesses leveraged efficiency improvements and enhanced competitiveness amid a cautiously rising consumer confidence. During the quarter, the net finance expenses of the group decreased significantly by 47.4 per cent to Rs.271.2 million due to lower interest rates and the reduction of net debt as a result of improved cashflows.
Despite revenue shortfalls in the first two quarters, the group achieved a significant revenue increase in the third quarter, reflecting the resilience and commitment of the group to drive growth, resulting in a cumulative revenue of Rs.87.6 billion. Cumulative earnings and operating profit increased to Rs.5.5 billion and Rs.9.9 billion, a growth of 20.9 per cent and 12.5 per cent respectively.
Driven by improving consumer sentiment, the consumer brands sector witnessed moderate growth in volumes during the quarter, resulting in a marginal increase in revenue by 4 per cent to Rs.16.1 billion. Despite the challenges posed by downward price movements, the business successfully maintained its market shares across most categories, achieving marginal growth in a number of categories, along with improved profitability.
In Bangladesh, notwithstanding the challenges posed by rising inflation and increased price sensitivity, ‘Kumarika’, the flagship Value-Added Hair Oil (VAHO) product has successfully maintained its strong customer loyalty.
In the healthcare sector, the pharmaceutical manufacturing business secured an extension to the buyback agreement for 2025, with new orders already confirmed. Driven by a commitment to innovation and expanding its own branded product line, Morison unveiled ‘CliniMor’—a new solution for the treatment of hypertension.
Plans for expansion at the two hospitals in Wattala and Thalawathugoda are progressing, with the planned acquisition of land for the expansion of the Thalawathugoda hospital being completed, marking a key milestone in our growth strategy.
Looking at the future, the statement said that following the conclusion of the Presidential and General elections, the new government has received a strong mandate, which paves the way for policy stability and the implementation of critical structural reforms aimed at accelerating economic recovery.
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