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Interim Results

Georgia Healthcare earnings rise

15 August 2017 07:27

Georgia Healthcare Group's first half revenues rose by 112.9% to GEL371.0m while earnings before interest, tax, depreciation and amortisation increased by 50.4% to GEL51.2m.

Pre-tax profits were up 44.9% at GEL24.3m.

Chief executive Nikoloz Gamkrelidze said: "Both Georgia Healthcare Group and the wider Georgia Healthcare system are in a strong period of growth and evolution.

"Georgia Healthcare Group, in particular, is in a significant business roll-out phase in a number of key areas and, in the first half of 2017, has continued to make strong progress in integrating recent acquisitions and delivering key organic growth priorities such as the Sunstone and Deka hospital redevelopment projects.

"All this has been achieved whilst continuing to adapt to changes in Georgia's Universal Healthcare Programme and seeking to develop a more diverse stream of revenues, particularly in the pharma and Polyclinic businesses."

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