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Nov 06, 2017 16:46 EEST
November 6 (SeeNews) - Romanian privately-owned medical services provider MedLife [BSE: M] said on Monday its net profit surged to 9.55 million lei ($2.41 million/ 2.07 million euro) in the nine months through September from 43,138 lei in the year-ago period.
The increase was mainly due to a rise in the operating profit, MedLife said in a statement filed with the Bucharest Stock Exchange, BVB.
MedLife's operating profit leaped 154% on the year to 29.1 million lei in the nine months through September.
Turnover increased by 27% on the year to 459.1 million lei, led by a significant growth in all business lines, mainly the dental, clinics and hospital segments and by acquisitions made in the last two years, MedLife said.
MedLife made its first purchase in 2011 by buying a majority stake in the PDR Brasov group of companies. Seven years later, the company has successfully completed 17 acquisitions, the last one being local private healthcare operator Polisano. The transaction is now pending approval from Romania's anti-trust body.
In December 2016, MedLife raised 230 million lei through a fully subscribed initial public offering of a 44% stake.
MedLife shares traded 0.28% higher at 36 lei on the BVB as at 1354 CET on Monday.
(1 euro=4.5920 lei)
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