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Hospital operator THG sees surge in profits

May 14. 2020
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By The Nation

Private hospital operator Thonburi Healthcare Group (THG) has announced a first-quarter net profit of Bt83 million, up more than 10-fold on the Bt8 million it recorded in same period in 2019.

THG’s revenue for Q1 rose to Bt1.94 billion, up 3.6 per cent from Bt1.872 billion in the same period last year.

THG vice chairman Tanatip Suppradit said the company had been able to maintain its performance despite the impact of the Covid-19 outbreak on the economy and international travel.

“Performance from January to February was satisfactory, but the performance in March dropped due to the Covid-19 outbreak,” he said.

He said factors boosting the company’s performance were an increase in revenue from new health centres at Thonburi Bamrungmuang Hospital and the opening of Thonburi Thungsong Hospital in Nakhon Si Thammarat.

“Revenue from other hospitals, such as Thonburi and Thonburi 2, was similar to the same period last year, while the net profit in this quarter reflected extra profit from investment in the Welly Hospital joint venture in China,” he said.

He expected the number of patients using services at hospitals to increase after the Covid-19 outbreak is resolved.

“The government’s move to ease lockdown measures will trigger positive economic sentiment and confidence among people, which will be reflected by increasing demand for our services in May,” he said.

He added that THG-operated hospitals have implemented Covid-19 preventive measures, including isolating patients with respiratory symptoms, sanitising equipment and surfaces, and banning reusable parking cards.

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