Shares of Bumrungrad reaches near 5-year high as medical tourism returns and shareholder clarity

Shares of high-end hospital operator – Bumrungrad Hospital Plc (BH) is trading at near 5-year high after the single hospital operator reported healthier earnings for its 2nd quarter and after there was more clarity on the shareholders.

Shares of BH was trading at 207 Baht a share up 12.50 Baht a share or 6.4% higher than yesterday’s closing price. The shares of BH have been witnessing a surge in the share price after BH reported a net profit rising by 19% quarter-on-quarter with a net profit of 1.17 billion Baht during the 2nd quarter. For the 6-months BH reported a net profit of 1.89 billion Baht, against 307 million Baht.

Attaphol Tisayukata, analyst at Tisco Securities came out to say that the new high seen in Q2 2022 was driven by both Thai and expat patient revenue which were 27% and 41% above Q2 2019 levels, respectively.

“But international (fly-in) revenue was still flat vs 2019. We note that Thai/Expat/Fly-in revenue made up 38%/13%/49% of total, respectively,” Attaphol says.

BH’s management has also come out to tell analysts that it was expecting things to be better during 2nd half of 2022 after the country opened to tourism.

Shares of BH has been hammered ever since the pandemic and the near grinding to halt of tourism industry. BH which had until recently focused on medical tourism from the Middle East and other countries.

Shares of BH had hit an all time high of 243 Baht on September 4, 2015 and over the past 5-years it was at a high of 226 Baht on October 27, 2017.

Clarity on Shareholders

To add to this is the fact that one of the major shareholders – Satit Viddayakorn, who held as many as 140.19 shares or about 17.64% stake in BH has divested his stake in the firm.

Satit informed to the Securities and Exchange Commission (SEC) that he has sold as much as sold 9.0412% shares of BH to Kiatnakin Securities. and Kiatnakin Phatra Bank, after having sold his shares earlier this month as well.

This leaves him with no shares in BH, thus leaving Bangkok Bank Plc and the Sophonpanich family as the only major shareholder with more than 50% stake in the hospital.

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