MedLife’s net profit in Q1, up by 15 pc

Romania’s largest private healthcare services provider, MedLife, ended this Q1 with a turnover of RON 146.92 million, 26.44 percent higher than RON 116.19 million of the same period last year, and the net profit exceeded RON 4.2 million, an increase of 15 percent year-on-year.

“This increase was mainly the result of significant growth in all of the Group’s business lines, led on a percentage basis by Stomatology, Clinics and Hospitals as well as the impact of the acquisitions completed by the Group in 2016,” the financial report sent to Bucharest Stock Exchamge (BVB) reads.

Stock-listed company under M symbol achieved operating revenues of RON 154.58 million, up by 32.80 percent than the RON 116.40 million in Q1 2016. In the period under review, the operating expenses increased by 32.23 percent, to RON 144.61 million, from RON 109.36 million.

According to quoted document, the increase was mainly linked to overall business increase and to Banu Manta sales and leaseback transaction. The Group’s operating expenses as a percentage of total operating income reached 94 percent in Q1 2017 compared to 93.5 percent in Q1 2016.

At the same time, the operating profit recorded a 41.6 percent increase in Q1 2017 as compared to Q1 2016, from RON 7.04 million in Q1 2016 to RON 9.97 million in Q1 2017. The financial loss increased by 53.33 percent, to RON 3.91 million, from RON 2.55 million. Thus, the net result increased by 15.57 percent, to RON 4.23 million, from RON 3.66 million.