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| Sunday, 24 April 2005 |
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Nawaloka
Hospitals - 100% increase in net profit in 2004/05
Nawaloka Hospitals Limited has been able to increase its net profit by 100% to Rs. 127 million for 2004/05 compared to Rs. 64 million in 2003/04. This is attributed to proper management and controlling of expenditure and the main contribution was from 50% reduction in the finance cost which was Rs. 98 million in 2003/04 which reduced to Rs. 52 million in 2004/05. Revenue for 2004/05 increased to Rs. 1.48 billion compared to Rs. 1.2 billion in 2003/04 which shows a 20% growth. Earning per share has increased by 50% for 2004/05 to 0.33 per Re 1 share compared to 0.22 per Re 1 share in the 2003/04. It shows a steady growth in the shareholders funds for 2004/05 which is Rs. 1.1 billion compared to Rs. 722 million in 2003/04. Long term leases and loans reduced by 58% in 2004/05 to Rs. 211 million compared to Rs. 499 million in 2003/04. This clearly shows that the company has settled a major portion of its long term loans. The financial review of the Nawaloka Hospitals Limited for 2004/05 shows an overall improvement in the hospital's performance in revenue, profit and liquidity compared to 2003/04. |
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