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Sunway Healthcare's Q1 Profit Drops Due to Higher Costs, Expenses

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Sunway Healthcare's (KLSE:SUNMED) first-quarter profit dropped to 33.3 million ringgit from 38.8 million ringgit a year earlier, according to a Thursday Malaysian bourse filing.

Shares slid about 2% in Friday's midday trade.

The company attributed the slump to higher depreciation, finance costs, and IPO-related expenses weighing on earnings.

Revenue, however, rose 24% year on year to 587.0 million, supported by stronger patient volumes, higher hospital utilisation and increased foreign patient inflows from markets including Indonesia, China and Cambodia.

The group said licensed bed capacity expanded 22% to 1,805 beds, with a total capacity at 1,982 beds as of March 31, as hospitals continued to ramp up operations.

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