Updates

Al Noor Hospitals - Makes its first two acquisitions

December 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The announcement of two long awaited acquisitions, plus a positive trading update, was enough to lift the shares to a new high of 918p. Al Noor has announced the acquisition of the Al Madar Clinic in Al Ain City and the Manchester Clinic in Jumeirah, Dubai for a combined US$16m. In addition it plans to open two new medical centres by the end of this year in Abu Dhabi, adding to three others already commissioned this year in Abu Dhabi, Al Ain and Muscat in Oman. The group also announced that Q3 revenues grew 11%, maintaining the same level set in the first half. The number of revenue generating physicians has grown by 78 to 418 year-on-year and it expects this to rise towards 100 by the year-end. Al Noor, which is deb ...

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