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Interim Results

GHG revenues jump

08 May 2017 07:30

Georgia Healthcare Group's first quarter net profits rose to GEL13.0m - up 8.4% on a year ago and up 11.9% on the previous quarter on a normalised basis.

Revenue of GEL186.6m was up 157.1% on a year ago and 37.2% up on the previous three months.

EBITDA rose to GEL25.1m - up 46.3% y-o-y, up 3.2% q-o-q.

Chief executive Nikoloz Gamkrelidze said: "Georgia Healthcare Group is in a significant business roll-out phase on a number of key strategic priorities and we continue to make strong progress in execution.

"Over the next few years in our healthcare services business, we aim to achieve one-third market share by hospital beds, invest to close existing medical service gaps, and deliver a rapid launch of ambulatory clinics in the highly fragmented and underpenetrated outpatient market.

"In pharma, our newest business area, we aim to achieve more than 30% market share by revenue whilst improving the EBITDA margin to more than 8%.

"During the first quarter of 2017, we have grown our operations in all areas of the Georgian healthcare ecosystem through a combination of organic growth and acquisitions, and I am pleased with our progress on each of the strategic priorities."

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