IHC says the higher FY16 revenue came from higher sales from their investment properties in two Australian cities – St Kilda and Geelong. The group’s operational nursing facilities in Japan also contributed a $1.8 million sales increase in rental revenue.
SINGAPORE (May 31): International Healthway Corp (IHC) sunk into the red in FY16, reporting a net loss of $76.8 million compared to earnings of $0.4 million in FY15.
Full-year revenue improved 9% to $49.1 million but IHC suffered other operating losses of $58 million mainly due to impairment loss on goodwill of $32.6 million from the accounts consolidation of Wuxi Hospital and fair value loss on investment properties in China of $18.8 million.
