Tuesday, May 31, 2011

China Healthcare

China Healthcare: FY11 results, revenue is up 10% to $27m, net profit is $3.8m from a loss of $5.7m the previous year. Note the previous year suffered a one-time $9.2m impairment loss on a subsidiary.
Net gearing stands at 30.4% from 80.2% the previous year. This was helped by an almost 4x increase in cash to $8.9m due to a rights issue and a reduction of $2.7m in total debt...

Moving forward the coy expects healthcare demand to grow with the aging population. They have been awarded a contract by MOH to operate a new medicare center with 88 bed capacity. They have also commenced construction of new facilities at their West Point Hospital...

Co has moved overseas with their ECON Medicare Center in Taman Perling to begin construction in FY12 with a bed capacity of 200. Consultancy projects for the construction and development of an Elderly Apartment in Tianjin Eco-City is also progressing well.
Stock currently trades at 11.5X P/E.

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