Ramsay Health Care Ltd Australian business continues to witness robust growth

Australian business continues to witness robust growth: Ramsay Health Care Ltd (ASX: RHC) reported a muted revenue growth of 3.5% yoy at $4.3 billion while witnessing moderate growth of 8.8% yoy in EBIT at $463.5 million for half year ended December 31, 2016. Geography-wise, Australian, U.K and France revenue grew by 8.8%, 6.8%, 6.1% (in constant currency terms), respectively. Net Profit After Tax (Core NPAT) grew by 12.8% yoy to $267.8, primarily led by growth in Australian business operating profits at $348.1 million.  Moreover, company’s global procurement strategy to deliver substantial savings in supply costs after securing improved commercial terms with major international supply companies are giving better results. Well-diversified Australian business continues to witness robust growth in-patient admissions during the same period, which reinforces the ongoing brownfield investments. In international markets, UK and France experienced strong volume growth. Further, global demand for healthcare is expected to be driven by an ageing and growing population, clinical innovation and increasing consumer expectations. Company’s geographical mix, public/private payer mix, ability to negotiate appropriate funding outcomes and the successful delivery of global procurement strategy are estimated to deliver over $40 million of savings over FY17.

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