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FINANCIAL NEWS
Abu Dhabi’s Noor group net profit drops 1.6 percent to USD45m
26 Aug 2015
(MENAFN) Al Noor Hospitals Group’s net profits dropped 1.6 percent in the first half of this year to USD45 million, a decline from the USD45.6 million logged in the same period 2014, a fall that was attributed to greater depreciation costs.
However, revenues jumped 8.5 percent, to reach USD244 million in the period in comparison with USD224.8 million in the first half of last year, driven by strong volumes in the outpatient and inpatient business.
The figures are predicted to remain under impact in the second half, due to expansion plans that include the opening of new medical centers, according to chief executive officer.
“We’ve got a new hospital focused on the Emirati population that’s opening up in the first quarter of next year in Al Ain, so that’s going to certainly add growth to the company,” the CEO added.
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