Revenue up 17.1% to RMB887.4 million
Core Profit Attributable to Shareholders up 37.5% to RMB 139.0 million
HONG KONG, April 1, 2014 /PRNewswire/ -- China's largest private hospital group -- Phoenix Healthcare Group Co. Ltd ("Phoenix Healthcare Group" or the "Company", together with its subsidiaries, the "Group") (Stock code: 1515), announced the annual results for the year ended 31 December 2013 (the "Year").
Currently, China's healthcare expenditure is growing rapidly. With ample room for growth and the deepening of the public hospital reform, the Company continuously enhanced its main businesses, actively participated and promoted the healthcare system reform, realizing steady revenue growth. During the Year, the Group's revenue amounted to RMB887.4 million, representing a year-on-year growth of 17.1% (2012: RMB758.0 million). The Group's overall gross profit reached RMB212.7 million, representing a year-on-year increase of 15.1% (2012: RMB184.8 million). In 2013, core profit attributable to shareholders (excluding one-off IPO-related expenses) increased by 37.5% to RMB 139.0 million (2012: RMB101.1 million). The Board proposed to pay a final dividend of HK6.7 cents per share.
In the future, the Group will still focus on Beijing region as the key market and will continue to expand the network of hospitals and clinics, further consolidate the supply chain, centralize key functionalities and standardize the operations of in-network hospitals, aiming to generate synergies and improve operational efficiency of hospitals. Meanwhile, the Group targets to use hospital facilities effectively, including establishing a central diagnosis and testing center to provide services at lower cost for in-network hospitals and clinics, and fostering medical knowledge and expertise across in-network hospitals and clinics via doctor sharing and cross referral. The Group will employ ERPs to monitor financial and operational data as well as to facilitate management decision making. In addition, the Group will implement JCI management on a comprehensive basis by employing more advanced clinical equipment and cultivating prestige clinical specialties in an orderly manner, attracting senior medical talents with a more advanced platform.
Mr. Liang Hongze, Chairman of Phoenix Healthcare Group said: "2014 will be a year for further deepening reforms in the Chinese healthcare industry, providing opportunities for Phoenix Healthcare to further consolidate our leading market position. Phoenix is one of the earliest entrants to China's public hospital reform, currently the largest private hospital group in China; we are strategically located in Beijing, the largest healthcare market in China. Our solid experience and successful track record in public hospital reform and hospital management make us the front runner in China's public hospital reform. We have been well recognized by the local government and received support from hospital owners. Looking forward, we are dedicated to offering patients with high quality medical services and making contribution to the healthcare system reform and at the same time striving to create recurring and fruitful return to our shareholders."
