• Confused terminology

    Edward Ingram clarifies some points on banking terminology from his previous essay.

  • Avoiding leadership traps

    Overconfidence can cause blind spots that may lead to business failure, says Ian Mann.

  • Dirt poor

    Results will be dire unless we look at soil and water differently, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Life Healthcare profit misses forecasts

Nov 16 2012 10:19
Reuters
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.

mediclinic  |  earnings reports

 
 
 

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
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

Money Clinic

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

Voting Booth

Would you buy the FNB branded smartphone?

Previous results · Suggest a vote

Loading...