Al Noor Hospitals’ records 79% surge in H1 net profits

August 14, 2014 9:01 am

Al Noor Hospitals announced 79% increase in net profits during first half of the year, as the UAE healthcare firm treated more out-patients. Net profit rose to $44.5 million on revenue up 25 per cent to $224.8m, Reuters reported. Al Noor added 31 physicians during the first six months which enabled the group to treat more patients who did not need an overnight stay in hospital, out-going chief executive Kassem Alom said in a statement. Outpatient volumes rose 20 per cent from the previous year. Alom said the London-listed company expects to meet its target of an additional 70-80 physicians in 2014. “We remain on track to deliver strong growth through our physician hiring programme and the opening of three medical centres,” Alom said. The board proposed an interim dividend of 3.7 pence per share, to be paid on October 10, its first half-yearly pay-out to shareholders, a statement said.