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FINANCIAL NEWS
UAE’s Al Noor Hospitals posts USD24m profit in H1
07 Aug 2013
(MENAFN) Abu Dhabi-based Al Noor Hospitals reported a 24.4 percent decline in half-yearly earnings as its first financial results as a publicly traded company, Reuters reported.
The largest healthcare provider in the UAE said it made USD24.8 million net profit during the first six months of 2013, down from USD32.8 million a year earlier.
The company also reported a 10.9 percent increase in January-June period to USD179.5 million aided by rising life-style related diseases in the Gulf region.
Underlying profit for the period, which excludes marketing costs associated with its London listing, rose to USD34.1 million, up from USD32.8 million for the same period last year.
Al Noor has the biggest market share among private health-care services providers in Abu Dhabi for both outpatients and inpatient, according to the company. The listing had valued the company USD1 billion.
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