♦ 1H10 net profit grew 20.8% yoy. KPJ’s 1HFY10 net profit came in at RM56.4m (+20.8% yoy), which accounted for 45% and 47% of our and consensus full-year estimates respectively. We consider this to be within expectations as we expect 2HFY10 earnings to be stronger on the back of: 1) contribution from 51%-owned Sabah Medical Centre, which KPJ acquired in Jan; and 2) full-contribution from Bukit Mertajam Hospital, in which KPJ acquired the remaining 30% equity interest in May.
KPJ Healthcare Berhad : Expecting A Stronger 2H10 - 01/09/2010
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