UAE's NMC Health 6th-best performing shares on FTSE

Abu Dhabi-based private healthcare provider saw its shares increase by 124% in the last year
By Beatrice Thomas
Sun 22 Dec 2013 11:36 AM

Abu Dhabi-based private healthcare provider NMC Health has recorded the sixth-highest share rise on the London stock exchange in the past year, it was reported.

An analysis by The Times newspaper found shares in the company increased by 124 percent on the FTSE to £4.42 ($7.22) at latest prices.

The performance was only bettered by five other companies – Bank of Georgia (131 percent), retailer SuperGroup (149 percent), leisure company Thomas Cook (294 percent), technology firm Xaar (299 percent) and retailer Ocado (416 percent).

NMC Health floated on the London Stock Exchange in April 2012 at £2.10.

In August this year it recorded a 17 percent increase in net profit to $32.3m during the first half of 2013. It reported a 14.8 percent rise in group revenue to $273.1m.

The Times report said since its listing on the stock market, NMC Health had since been joined by a similar business, Al Noor Hospitals.

“NMC has benefited from the greater provision of healthcare in its home market and the growth of conditions linked to increasing prosperity, such as obesity,” The Times said.

NMC, founded in 1975, currently operates five hospitals, as well as a number of medical centres and pharmacies.

Commenting on its H1 results, CEO BR Shetty said: “Our continued focus on clinical specialisms and Centres of Excellence, together with our drive to introduce new product lines into the distribution division, is again driving growth across the group.”

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.