Loading...
See More

Life Healthcare profit misses forecasts

Nov 16 2012 10:19 Reuters

Company Data

LIFE HEALTHCARE GROUP HOLDINGS LTD [JSE:LHC]

Last traded 0
Change -0,58
% Change 0
Cumulative volume 589257
Market cap 43.24bn

Last Updated: 23-10-2014 at 11:41. Prices are delayed by 15 minutes. Source: McGregor BFA

MEDICLINIC INTERNATIONAL LIMITED [JSE:MDC]

Last traded 0
Change -1,43
% Change 0
Cumulative volume 288964
Market cap 78.61bn

Last Updated: 23-10-2014 at 11:40. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Minister laments sickly SA healthcare

Mediclinic to take full control in Dubai

Medical schemes back new tariffs

Hospitals, specialists drive up costs

Integration can cut costs - Discovery CEO

Peace of mind

 
Johannesburg -  No 2 private hospital group Life Healthcare [JSE:LHC] fell short of market expectations for its full-year profit on Friday, after it wrote down the value of a business.

Life Healthcare said diluted headline earnings rose 18% in the year to end-September, to 141 cents per share, below the average estimate of 144c in a Thomson Reuters poll of nine analysts.

Headline EPS, the primary profit gauge in South Africa, strips out certain one-off items.

The company's rehabilitation and mental health unit reported lower profit due to a writedown at one of its hospitals.

Shares in Life Healthcare dropped 3.6% to R32 by 09:29, lagging behind a slightly lower JSE All-share index.   

Demand for private healthcare is increasing in South Africa as a fast-growing middle class take up medical insurance. Life Healthcare said revenue increased 11.5% to R11bn.

Shares in the company are up about 60% so far this year, outpacing a 15% gain the JSE All-share index  over the same period.

Larger Rival Mediclinic International [JSE:MDC] reported a 45% surge in first-half profit, helped by a robust showing in its South African business. Netcare, which has flagged as much as 20% drop in full-year profit, is due to report next week.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...