NMC Health expects revenue and profit to rise
The leading private healthcare operator in the Gulf Cooperation Council expects both revenue and profit to rise by over 10% in the coming fiscal year.
The company confirms that business performance in the second half of 2019 is building on the strong trends seen in January-June
Stocks impacted: NMC Health (NMC)
The company also reiterated full-year guidance across revenues, EBITDA, net income, leverage and cash flow conversion. NMC Health will reduce debt by up to US$100m during H2 2019 due to a combination of a rising cash balance and management’s decision to focus on the integration of previously acquired assets during 2019. In terms of capital expenditure for 2020, growth capex is projected at US$90-100m, while maintenance capex will continue at 3% of revenues for the year. London-listed Middle Eastern health care group’s strategy continues to offer substantial advantage over competitors in all key markets the company operates in. after the announcement, the company’s stock rallied nearly 3.6% on Monday.
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