His Highness Sheikh Nahyan bin Mubarak Al Nahyan with BR Shetty. (File Photo)

NMC Healthcare upgrades revenue growth estimates

In a regulatory announcement to the London Stock Exchange ahead of a ‘Capital Markets Day” in London, the company ascribed the increase to what it described as “positive developments in the second half of 2018.” … reports Asian Lite News.

(Photo: WAM)

UAE-based NMC Healthcare today announced an upgrade in projected revenue growth during 2018, from 22 percent to 24 percent, with projected EBITDA guidance for the year rising from US$465 million to US$480 million at year end.

In early trading on the London Stock Exchange, NMC Healthcare shares rose by over 9 percent to 33.08 pounds sterling.

In a regulatory announcement to the London Stock Exchange ahead of a ‘Capital Markets Day” in London, the company ascribed the increase to what it described as “positive developments in the second half of 2018.”

“2019 guidance will also point towards continuation of strong organic growth on the back of sustained ramp-up at key facilities, integration and expansion of acquired entities as well as strong operational performance,” the announcement said. “Revenues are forecast to increase by 22-24 percent and EBITDA is expected to increase by 18-20 percent.”

The guidance for 2019 does not reflect the impact of anticipated financial consolidation of National Medical Care Company, with an update on this due to be provided once the joint-venture with Hassana/GOSI in Saudi Arabia has been formalised. This is on track for completion before the end of this year.

The announcement said that during 2019, NMC Healthcare expects to open new greenfield facilities, particularly in the UAE, a continued ramp-up of various facilities in several countries and a full-year consolidation of Aspen Healthcare, a UK health provider acquired in August this year.

NMC Healthcare is the leading private healthcare operator in the Gulf Cooperation Council with international services in a total of 17 countries.

Previous Story

Nashwa Al Ruwaini receives Mother Teresa Memorial Award

Next Story

‘Kedarnath’ not an everyday love story: Producer

Latest from BUSINESS

Microsoft Cuts Deep

The fresh job cuts come less than two months after Microsoft announced it was laying off more than 6,000 employees…reports Asian Lite

Northeast Is Growth Engine

Scindia also provided updates on the government’s efforts to facilitate the entry of SpaceX’s Starlink service into India. “All due diligence from

India to Empower Global South

India is emerging as a pivotal force in the global transition to clean energy, with Union Minister for New and Renewable Energy,

Maruti’s Global Push Breaks Record

June shipments hit 37,842 units, signalling robust global demand Maruti Suzuki India recorded its highest-ever monthly exports in June, shipping 37,842 units

EVs Drive Cleaner Cities

Each EV is equipped with GPS tracking for real-time monitoring and efficiently serves the city’s 159.46 square kilometre area The use of