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UAE’s NMC Health reports USD27.5m profit in H1

29 Aug 2012

(MENAFN) Abu Dhabi-based healthcare chain NMC Health reported a 21 percent increase in half-yearly profits as revenues from its core business improved, Reuters reported.

The company’s CFO Prasanth Manghat said NMC made USD27.5 million net profit during the first six months of 2012. Earnings before interest, tax, depreciation and amortization (EBITDA) rose 10 percent to USD39.7 million.

The official said also that revenues grew by 8.4 percent to USD238 million in the period, while capital expenditure jumped to USD37.1 million from USD12.9 million a year earlier.

Manghat unveiled plans to ramp up capital spending to USD325 million to develop new healthcare projects over the next three years.

NMC remained positive about revenue and profit outlook for the second half of this year.

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