The nation’s largest private hospitals operator Ramsay Health says surgical volumes are returning and COVID costs are starting to ease.
has increased its interim dividend after posting a 22.3 per cent lift in its bottom line net profit to $194.4 million with surgical activity coming back as COVID-19 cases fell in the community.
It did not provide any guidance for the half year to December 31 when group revenue rose 10.4 per cent to $7.38 billion, and earnings before interest, taxes, depreciation, and amortization gained 7.8 per cent to $1.03 billion. Group Asia Pacific revenue reached $2.84 billion, up 4 per cent, while earnings gained 7.6 per cent to $307 million. The direct COVID-19 costs declined from $56.8 million in the first quarter to an immaterial impact in the December quarter. The residual costs are expected to continue for the foreseeable future, Ramsay said.
“Given the large backlog of public work we expect increasing demand from the public sector in the coming years,” he said.He added the outlook for the group remains strong, and expects a gradual recovery through this year and more normalised conditions from fiscal 2024 onwards.
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