Health Profits

Feb 06, 2012 (LBO) – Sri Lanka’s Asiri Hospital Holdings said net profits in the December 2011 quarter rose 51 percent to 117 million rupees from a year earlier, as revenues grew 36 percent to 1.67 billion rupees. The firm has earnings of 13 cents per share for the quarter. It is reporting earnings of 38 cents for the period to December 2011, on profits of 339.2 million rupees.

The stock last closed at 8.50 cents.

In the December quarter as revenues grew 36 percent, expenses grew at a faster 42 percent to 924 million rupees, allowing gross profit to grow at a slower 28 percent to 749 million rupees.

Asiri Hospital Holdings, finance costs fell to 165 million in the quarter from 180 million rupees a year earlier.

Interest rates have been rising over the past five months and the Central Bank hiked policy rates 50 basis points Friday. Group interest bearing liabilities were 4.0 billion rupees.

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