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Mediclinic News : Life heathcare's shares rise after upbeat trading update

Title

Life heathcare's shares rise after upbeat trading update

Date

2018-04-30

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News Description

BUSINESS LIVE Life Healthcare’s share price rose 2.45% to R29.71 on Monday morning after it said it expected to report its basic earnings more than quadrupled. The private hospital group said it expected to report on June 1 that its basic earnings per share (EPS) for the six months to end-March rose by between 320% and 335%. Growth in headline earnings per share (HEPS) was expected to be a more modest 110% and 121%. Life Healthcare said its earnings had been bolstered by the inclusion of its recent UK acquisition Alliance Medical for four of the six months in the reporting period. The comparative period’s earnings had been reduced by various one-off costs, including transactions costs of R254m and funding costs of R315m for the Alliance Medical deal, and also a R142m impairment of its Polish subsidiary Scanmed. Discussions relating to selling its half its Indian joint venture Max Healthcare to its partner was still under way, the trading update said. Revenue at its Southern African operations grew by up to 10%, with "the higher volumes in the acute hospital division with paid patient days increasing by 2% above last year". Scanmed’s revenue is expected to grow by up to 22% "as a result of the business turnaround driven by the management team".
Created at 2018/05/07 04:54 PM by Mediclinic
Last modified at 2018/05/07 04:54 PM by Mediclinic