Lanka Hospitals records strong performance in 1H22

27 August 2022 01:01 am Views - 612

• PAT grows by 140% compared to previous year

The Lanka Hospitals Corporation PLC posted a profit after tax (PAT) of Rs.2.7 billion for the six months ending on June 30, 2022, further consolidating its strong balance sheet. 

For the period, Lanka Hospitals recorded a gross turnover of Rs.5.25 billion and an operating profit of Rs.801 million. Together with the operating profit, investment income and exchange gains, Lanka Hospitals has reported a strong financial position, reflecting a profit growth of 140 percent compared to the corresponding period of the previous year. 

The company’s per share earnings have increased up to Rs.12.37, compared to Rs.5.15 recorded in the previous year.

Lanka Hospitals Group Chairman Dr. Bandula Wijesiriwardena commenting on the company’s performance stated the second quarter of 2022 was a period where unprecedented challenges were encountered by the two companies in the group.  Further, the company has announced an interim dividend of Rs.2.00 per share to its shareholders and allocated Rs.447 million for the half year that ended on June 30, 2022. It is the highest interim dividend declared by the company. 

Lanka Hospitals Group Chief Executive Officer Deepthi Lokuarachchi stated that in the second quarter of 2022, the company had to incur high costs for medical consumable purchases. 

“During this time, Lanka Hospitals offered healthcare services to the public at affordable costs, despite the economic situation. Many initiatives were taken to ensure the quality of life of staff and that their continuous contribution is key to the success of LHC Group,” said Lokuarachchi.