NMC Healthcare posts strong first-half growth

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NMC Healthcare posts strong first-half growth
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Private medical provider NMC Health (LON:NMC) saw its shares rise by 5.86% to 4,298p (as of 11:00 BST) after the company’s revenues for the first half grew by 20.2% relative to the same period of 2017. EBITDA margins improved by 220 basis points to 24.2%, with EBITDA improvement outpacing that of sales. Management said that the performance was in line with their expectations and that the business was on track to meet full year targets.

Chief Executive Prasanth Manghat commented that: “The first half of 2018 saw NMC continue to demonstrate strong organic growth alongside complementary acquisitions, resulting in the realisation of improved financial results which more fully reflect the effect of previous integration and revenue enhancing activities. The benefits of scale, our mix of healthcare verticals and cross utilisation of assets and business streams is now starting to be reflected through enhanced revenue and improved efficiencies and margins.

“The Group’s new financing arrangements, with varying debt term dates spread into the longer term, provide a very strong financial base from which to continue to grow the business. While we continue to apply strict criteria to our expansion opportunities this backdrop gives us confidence in addressing any future funding requirements to support our ambitious growth plans

“We therefore see continuing good growth potential across different parts of the Group in 2019 and beyond and remain confident in the long-term prospects of the business as we enter the second half of 2018.

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