Equity Analysis /

MY : IHH Healthcare Bhd - Coping with normalising demand

    29 November 2021
    Published byCGS-CIMB

    IHH’s 9M21 core net profit increased yoy due to the low base effect last year, but was down 23.5% qoq, due to higher staff cost and lower grant income. SG and MAL reported higher Covid-19-related revenue qoq. India and Turkey saw lower Covid-19-related revenue qoq, offset by higher patient volume. Reiterate Add on IHH. We expect higher operating leverage moving forward.