Al Noor Hospitals Group shares fell yesterday despite posting a 12 per cent rise in first-quarter revenue.
The Abu Dhabi-based, London-listed company recorded revenue of US$124.9 million compared with $111.6m in 2014.
The result and the resignation of the company’s chief financial officer, Pramod Balakrishnan, weighed heavily on the company’s shares, which fell 5.7 per cent yesterday to 819 pence each.
“The growth rate is lower than consensus and our forecasts for the full year, [which is] a 15 per cent increase,” said Charles Weston, an analyst at the London-based Numis Securities. “We view the revenue growth and change of [chief financial officer] as unlikely to support a bull case.”
The company, which did not report profit figures, said it was debt- free, with $93.7m in cash and bank deposits, up from $63m in the same period last year. It has an unutilised $81.7m working capital and acquisition credit line, unchanged from last year.“We continue to pursue our expansion plans into new markets and development of clinical services to achieve a robust ‘continuum of care’ for our patients,” said Ronald Lavater, the chief executive.
The group said it had increased its inpatient volumes, with the hospitals on Abu Dhabi’s Airport Road and Al Ain driving the growth, offsetting a fall at the Khalifa Street centre in the city. The facility faces increasing competition and is undergoing refurbishments after being in operation for 16 years. The hospital is located close to several hospitals such as NMC Specialty Hospital and Al Raha Hospital.
More hospitals are expected to be built in Abu Dhabi this year, with Cleveland Clinic on Al Maryah Island opening more critical care units by the end of the month.
In the first quarter, Al Noor opened a medical centre in the Western Region at the Emirates Nuclear Energy Corporation power plant site.
It used $64m last year to buy assets, including the Gulf International Cancer Centre in Abu Dhabi for $26.7m. It also opened three medical centres last year.
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Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
How Beautiful this world is!
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Sunday's games
All times UAE:
Tottenham Hotspur v Crystal Palace, 4pm
Manchester City v Arsenal, 6.15pm
Everton v Watford, 8.30pm
Chelsea v Manchester United, 8.30pm
AUSTRALIA SQUAD
Steve Smith (capt), David Warner, Cameron Bancroft, Jackson Bird, Pat Cummins, Peter Handscomb, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Shaun Marsh, Tim Paine, Chadd Sayers, Mitchell Starc.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
COMPANY PROFILE
COMPANY PROFILE
COMPANY PROFILE
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
8 traditional Jamaican dishes to try at Kingston 21
- Trench Town Rock: Jamaican-style curry goat served in a pastry basket with a carrot and potato garnish
- Rock Steady Jerk Chicken: chicken marinated for 24 hours and slow-cooked on the grill
- Mento Oxtail: flavoured oxtail stewed for five hours with herbs
- Ackee and salt fish: the national dish of Jamaica makes for a hearty breakfast
- Jamaican porridge: another breakfast favourite, can be made with peanut, cornmeal, banana and plantain
- Jamaican beef patty: a pastry with ground beef filling
- Hellshire Pon di Beach: Fresh fish with pickles
- Out of Many: traditional sweet potato pudding
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
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Director: Ruben Fleischer
Cast: Tom Hardy, Michelle Williams, Riz Ahmed
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How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
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Install an air filter in your home.
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Buy farm-fresh food
The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.
In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others.
In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food.
In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra.
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THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
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Opening weekend Premier League fixtures
Weekend of August 10-13
Arsenal v Manchester City
Bournemouth v Cardiff City
Fulham v Crystal Palace
Huddersfield Town v Chelsea
Liverpool v West Ham United
Manchester United v Leicester City
Newcastle United v Tottenham Hotspur
Southampton v Burnley
Watford v Brighton & Hove Albion
Wolverhampton Wanderers v Everton
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions