KUALA LUMPUR (Feb 28): Hospital operator KPJ Healthcare Bhd’s (KL:KPJ) net profit surged 64% in the final quarter of 2024, as revenue growth from higher patient visits and bed capacity outpaced increases in costs and expenses.

Net profit for the three months ended Dec 31, 2024 (4QFY2024) was RM120.52 million, the group's highest quarterly earnings ever, it said in an exchange filing. Revenue for the quarter rose 15% year-on-year to RM1.05 billion.

Looking ahead, KPJ Healthcare remains optimistic about 2025, citing a robust capacity expansion plan and the development of centres of excellence across its network.

“Managing staff costs, a prevalent challenge in the industry, will remain a priority for us in 2025,” said KPJ Healthcare managing director Chin Keat Chyuan. “Concurrently, we will enhance our efforts in cost optimisation and operational efficiency.”

KPJ Healthcare declared a special dividend of 0.10 sen per share, alongside an interim dividend of 1.05 sen per share. Total dividends for FY2024 stand at 4.15 sen per share, up from 3.35 sen in FY2023.

For the full year, net profit grew 34% to RM353.82 million, with more patients visiting the group's hospitals, on the back of an increase in bed capacity. Revenue climbed nearly 15% to RM3.92 billion from FY2023.

KPJ Healthcare’s stock fell 12 sen or 4.8% to RM2.37 on Friday, valuing the group at RM10.87 billion ahead of the results announcement.