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13,350
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MEDICAL SERVICES
CHAROEN KITTIKANYA
Bangkok Dusit Medical Services (BGH) the country's largest hospital operator, expects its bottom line will double this year from the 2007 level despite pressure from a poor economy, the higher cost of living and its own price freeze.
The second half is the high travel season, which will bring more business to the group's seven hospitals, according to the company's director and executive adviser, Dr Pongsak Viddayakorn.
Gains are expected from BGH branches in Phuket, Pattaya, Samui and Trat, as well as its BNH and Samitivej hospitals in Bangkok.
BGH is Thailand's largest private hospital operator based on market capitalisation, revenue and number of hospitals. The group treats 750,000 international patients annually, more than half of the total number of international patients treated in Thailand each year.
BGH posted healthy results in the first half of the year, with consolidated net profit rising 90% year-on-year to 1.036 billion baht from 546.32 million in the first half last year. Total revenues rose 19% to 10.82 billion as a result of 24% growth in inpatient revenues and 14% growth in outpatient revenues.
Thai patient visits grew 15% year-on-year while international patients increased 24%, creating a 62:38 revenue proportion between Thais and foreigners.
The company said its share of profit from investments also increased from seven million baht to 86 million as a result of its investment in Ramkhamhaeng Hospital Plc (RAM), which contributed 77 million baht in the first half.
For the second quarter, the company reported net profit of 339 million baht, an increase of 175% year-on-year, on revenue of 5.24 billion, up 20%.
''Our profit for the period would have been much higher if we had not opted to freeze our prices to help ease the burden of customers who are now struggling under economic hardship,'' said Dr Pongsak. ''We promised to cap prices until year-end or until the country's economy recovers.''
BGH shares closed yesterday on the Stock Exchange of Thailand at 37.25 baht, up one baht, in trade worth 43.47 million baht.
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