Cairo – Mubasher: Cleopatra Hospitals Group (CHG) expects higher net profits in 2020 in line with top-line growth, despite higher depreciation as the company continues its infrastructure investments as well as lower interest rates.
The group’s revenues increased by 10%, supported by strong top-line growth in the second half (H2) of the year which offset the slowdown caused by the coronavirus (COVID-19) pandemic in the second quarter (Q2), according to a bourse disclosure on Wednesday.
For Q4-20, revenues rose by about 20% year-on-year (YoY) as the number of patients returned to normal levels.
During the first nine months of 2020, CHG logged net profits of EGP 182 million, up from EGP 169.9 million in the year-ago period, including minority shareholders’ rights.
