Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Tuesday, August 28, 2012

UPDATE 1-Malaysia IHH Q2 profit soars on one-off gains, revenue jump

KUALA LUMPUR, Aug 28 (Reuters) - Malaysia's IHH Healthcare Bhd, the world's second-biggest listed healthcare provider by market value, posted a more than five-fold jump in second-quarter profit, mainly on consolidation of results from a Turkish hospital and gains from the sale of assets in Singapore.

The arm of Malaysia's state investor Khazanah Nasional Bhd is one of a small number of healthcare sector plays in the region, where rising incomes and an expanding middle class are boosting demand for better services.

IHH, which raised $2.1 billion in July in the world's third-biggest IPO so far this year, said net profit was 403.54 million ringgit ($130 million) in the three months ended June 30. Analysts generally don't provide quarterly profit estimates in Malaysia.

Revenue more than tripled to 2.70 billion ringgit from 815.97 million ringgit a year earlier, according to a stock exchange filing.

Net profit for the six months period ended June 30 rose nearly two-fold to 527.38 million ringgit, exceeding the 515.5 million ringgit full-year profit estimate of analysts tracked by Thomson Reuters I/B/E/S.


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