NMC Health stock jumps as earnings rise and group looks to Saudi Arabia

NMC Health stock jumps as earnings rise and group looks to Saudi Arabia:

The UAE-based private health care operator NMC Health is looking to further expand into Saudi Arabia, buoyed by strong revenue growth and strategic acquisitions made in the first half of the year.

The company reported on Monday a 20.2 percent increase in revenue in the first six months of the year, to reach $932 million. Healthcare revenues alone rose by 25.8 percent to $706 million. Net profit also rose to $116.7 million, a 19.3 percent increase on the same time period the year before.

The stock was up more than 3 percent in early afternoon trade in London.