{"id":561013,"date":"2021-03-22T03:57:14","date_gmt":"2021-03-22T03:57:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/22\/cleopatra-hospitals-net-income-up-21-in-4q2020\/"},"modified":"2021-03-22T03:57:14","modified_gmt":"2021-03-22T03:57:14","slug":"cleopatra-hospitals-net-income-up-21-in-4q2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/22\/cleopatra-hospitals-net-income-up-21-in-4q2020\/","title":{"rendered":"Cleopatra Hospitals net income up 21% in 4Q2020"},"content":{"rendered":"

EARNINGS WATCH-<\/strong> Cleopatra Hospitals Group\u2019s (CHG) net income rose 21% <\/strong>y-o-y <\/strong>in 4Q2020<\/strong> to EGP 116 mn<\/strong>, up from EGP 95 mn in 4Q2019, the company said in an earnings release (pdf)<\/a>. Revenues for the quarter grew 19% y-o-y to EGP 611 mn, up from EGP 511 mn in the same quarter of 2019. Over the course of the year the company reported a 12% increase in net income to EGP 298 mn on the back of an 11% rise in revenues and efforts to reduce costs.<\/p>\n

Rising patient volumes in 4Q point to full recovery from covid headwinds:<\/strong> The company saw patient numbers fall 11% during the course of the year, but an uptick in the final quarter is raising hope that a \u201cfull recovery\u201d in volumes is around the corner, CEO Ahmed Ezzeldin said. \u201cWe expect to see them return to their pre-crisis growth trajectory in the near future,\u201d he added.<\/p>\n

Looking ahead: <\/strong>In the short-term, the company plans to enhance the quality of its services and support the increase in patient volumes through marketing campaigns. It will also continue rolling out new digital systems to improve operational efficiency. Over the longer term, the company is looking to open two new centers \u2014 one specialized in oncology at Queens Hospital, the other respirology at El Katib \u2014 and will continue working to obtain permits for a new hospital in Beni Suef.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- Cleopatra Hospitals Group\u2019s (CHG) net income rose 21% y-o-y in 4Q2020 to EGP 116 mn, up from EGP 95 mn in 4Q2019, the company said in an earnings release (pdf). Revenues for the quarter grew 19% y-o-y to EGP 611 mn, up from EGP 511 mn in the same quarter of 2019. Over […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[3840,192,409,72,7115],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561013","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-ahmed-ezzeldin","tag-cleopatra-hospitals-group","tag-earnings-watch","tag-enterpriseam","tag-healthcare","wpautop","entry"],"acf":{"mongo_id":"5e69bd2d-f4a7-4a67-9a82-6505e4f47d2c","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[560997],"teaser":"","voice_url":""},"yoast_head":"\nCleopatra Hospitals net income up 21% in 4Q2020 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/22\/cleopatra-hospitals-net-income-up-21-in-4q2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cleopatra Hospitals net income up 21% in 4Q2020\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Cleopatra Hospitals Group\u2019s (CHG) net income rose 21% y-o-y in 4Q2020 to EGP 116 mn, up from EGP 95 mn in 4Q2019, the company said in an earnings release (pdf). 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The company\u2019s bottom line was underpinned by its highest-ever quarterly revenues, rising 6% y-o-y to EGP 648.7 mn. On a full-year\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/278.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574351,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/07\/earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals\/","url_meta":{"origin":561013,"position":3},"title":"Earnings Watch- Cleopatra Hospitals Group, Pioneers Holding, Suez Cement, Sidi Kerir for Petrochemicals","author":"enterpriseam admin","date":"7 September 2020","format":false,"excerpt":"EARNINGS WATCH- Cleopatra Hospitals Group reports a 67% y-o-y decline in 2Q2020 net profits to EGP 14 mn, down from EGP 42.6 mn in the previous year according to thecompany\u2019s earnings release (pdf). 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Revenues came in 38% higher y-o-y at EGP 293.2 mn, \u201cdriven by both higher patient volumes and improved pricing.\u201d Cleopatra Hospital was the largest\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602064,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/18\/earnings-watch-cleopatra-beltone-financial-report-2018-results\/","url_meta":{"origin":561013,"position":5},"title":"Earnings watch: Cleopatra, Beltone Financial report 2018 results","author":"enterpriseam admin","date":"18 March 2019","format":false,"excerpt":"EARNINGS WATCH- Cleopatra Hospitals Group reported a 168% y-o-y increase in net profit in 4Q2018 to EGP 90.2 mn, up from EGP 33.6 mn in 4Q2017, according to the company\u2019s earnings release (pdf). 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