Hua Xia Healthcare revenue up 13% to HK$390mn

The company continues to grow general hospital operations and pharmaceutical distribution and retail units.

Hua Xia Healthcare Holdings Limited (“Hua Xia Healthcare”) on Friday announced its first quarter results for the three months ended 30 June 2011. The Group recorded a turnover on business operation of approximately HK$389.8 million (2010: approximately HK$344.8 million), representing a significant increase of 13.07% compared to the same period last year. The rise in turnover was mainly driven by retail, wholesale and distribution of pharmaceutical products in the PRC. Profit attributable to owners of the Company was recorded at HK$10.4 million (2010: approximately HK$16.3 million). The slight decrease was mainly due to the absence of one-off vendor compensation recognized in the current period.

Mr. Yung Kwok Leong, Chairman and CEO of Hua Xia Healthcare, commented, “During the period under review, I was pleased to see Huihao Medicine Wholesale Group continue to improve sales and distribution penetration, resulting in increased turnover. Looking forward, we will continue to capture opportunities from healthcare reform in the PRC and to further demonstrate the advantages and competitiveness of our well-established sales network in the region.”

The management of the Group will continue to rely on its two core businesses, which are general hospital operations and pharmaceutical distribution and retail businesses, to achieve growth. It will also actively look for opportunities arising from future healthcare reforms and rapid economic expansion, according to a Hua Xia Healthcare report.

“Looking ahead, with the Group’s precise market positioning in 2011, our hospitals will benefit tremendously from the outcome of healthcare reforms in the PRC, especially based on the solid development of our hospital management systems and well-trained professionals. At the same time, we should seek further cost efficiency within our hospitals to maximize profitability, while we continue to look for growth opportunities. We are confident that we can deliver stable and long-term returns to our shareholders,” Mr. Yung concluded.