Friday 19 July 2019

Prasanth Manghat

NMC Health H1 revenue up 20pc to hit $932m

LONDON, August 21, 2018

NMC Health, a private healthcare operator in the GCC, has reported revenues increased by 20.2 per cent year-on-year (YoY) to $932 million for the first half of the year (H1), with organic growth accounting for 13.4 per cent of the rise.

EBITDA margin increased by 220bps to 24.2 per cent as EBITDA growth (+32.1 per cent to $225.5 million) continues to outpace revenue growth Financial and operational performance during H1 2018 remained in line with expectations, with management maintaining positive outlook for H2 2018, reported Wam, citing a company statement.

Healthcare continues to be the primary driver of growth with revenues up by 25.8 per cent to $706.0 million and Healthcare EBITDA up 34.0 per cent to $226.8 million, the statement said.

Prasanth Manghat, NMC Health chief executive officer, said, "The first half of 2018 saw NMC continue to demonstrate strong organic growth alongside complementary acquisitions, resulting in the realisation of improved financial results which more fully reflect the effect of previous integration and revenue enhancing activities. The benefits of scale, our mix of healthcare verticals and cross utilisation of assets and business streams is now starting to be reflected through enhanced revenue and improved efficiencies and margins."

Tags: NMC Healthcare | H1 revenue |

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