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Higher revenues boost Cleopatra Hospitals Q2 profits 184%

Higher revenues boost Cleopatra Hospitals Q2 profits 184%
Cleopatra Hospitals' consolidated profits grew to EGP 52.6 million in H1-17
Cleopatra Hospital
CLHO
-0.83% 7.21 -0.06

Cairo – Mubasher: Cleopatra Hospitals Group on Tuesday posted a 184% year-on-year leap in profits for the second quarter of 2017 due to higher revenues.

The group achieved profits of EGP 23.6 million in the three months ended June 2017 from EGP 8.3 million in the corresponding period of 2016, according to a filing to the Egyptian Exchange (EGX).

Activity revenues increased by 29.3% to EGP 261.8 million in Q2-17 from EGP 202.4 million in Q2-16.

In the first half of 2017, consolidated profits surged 70.8% to EGP 52.6 million from EGP 30.8 million in the prior-year period.

Standalone profits soared 185.7% to EGP 39.2 million in H1-17 from EGP 13.7 million in the same period last year.

Cleopatra Hospitals had previously reported a 29% growth in consolidated profits for Q1-17 to EGP 29.06 million from EGP 22.5 million in the year-ago period.