August 9 (SeeNews) - Romanian privately-owned medical services provider MedLife [BSE: M] said on Wednesday its net profit tripled year-on-year in the first half of 2017, reaching 6.4 million lei ($1.64 million/1.4 million euro).
The increase was mainly due to the translation of the rise in the operating profit into the net result, MedLife said in a statement filed with the Bucharest Stock Exchange, BVB.
MedLife's operating profit rose 61.6% on the year to 17.88 million lei in the six months through June.
The turnover increased by 29% on the year to 301.09 million lei, led by a significant growth in all business lines, manly dental, clinics and hospital segments, and by acquisitions made in the last two years, MedLife said.
On Tuesday, MedLife said it has acquired 55% of local peer Valdi Medica for an undisclosed price. Valdi Medica operates Humanitas Hospital in Cluj-Napoca, in northwestern Romania.
Upon completing the transaction the MedLife group will reach its 16th acquisition.
In December 2016, MedLife raised 230 million lei through a fully subscribed initial public offering (IPO) of a 44% stake.
MedLife shares were traded 2.92% higher at 38.8 lei on the BVB as at 1504 CET on Wednesday.
(1 euro=4.5687 lei)