(Alliance News) - Georgia Healthcare Group PLC said Wednesday that earnings and revenue for the third quarter of 2019 rose on strong performances from all of its businesses.
For the three months to the end of September, the Georgian healthcare provider said pretax profit rose by 29% to GEL12.9 million, around USD4.4 million, from GEL10.0 million a year before.
Earnings before interest, taxes, depreciation and amortisation increased by 12% to GEL36.6 million from GEL32.7 million, on revenue that grew by 14% to GEL230.5 million from GEL202.9 million the prior year.
Georgia Healthcare said that its strong performance was driven mostly by double-digit growth from its Pharmacy & Distribution business, and solid results from its other segments.
For the three-month period, Pharmacy and Distribution revenue rose by 19% to GEL146.8 million, driven by organic sales growth.
Hospitals revenue increased by 7.1% to GEL68.7 million on the ramp-up of newly launched hospitals, and the Clinics segment reported revenue up 19% to GEL10.6 million, on robust performances from its community clinics and polyclinics.
For the nine-months to the end of September, Ebitda rose by 17% year-on-year to GEL111.4 million, on revenue that rose by 13% to GEL703.3 million from GEL622.4 million.
However pretax profit for the nine months dipped by 0.4% to GEL38.4 million from GEL38.5 million on slightly higher costs.
"In what remains the seasonally quiet quarter of the year, our businesses have continued to deliver on key priorities and the significant investment programme of the last few years is now beginning to be reflected in business performance," said Chief Executive Officer Nikoloz Gamkrelidze.
"The group's performance in the first nine months of the year has demonstrated progress against these objectives, and we are well positioned to continue this progress during the remainder of 2019 and beyond," Gamkrelidze added.
Shares in Georgia Healthcare - which is headquartered in London - were up 3.9% at 187.05 pence on Wednesday.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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