Loading...
See More

Medi-Clinic full-year profit flat

May 24 2011 16:34 Reuters

Company Data

MEDICLINIC INTERNATIONAL LIMITED [JSE:MDC]

Last traded 0
Change 0,27
% Change 0
Cumulative volume 2392003
Market cap 81.67bn

Last Updated: 21-11-2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

NETCARE LIMITED [JSE:NTC]

Last traded 0
Change 0,05
% Change 0
Cumulative volume 3098933
Market cap 49.86bn

Last Updated: 21-11-2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

LIFE HEALTHCARE GROUP HOLDINGS LTD [JSE:LHC]

Last traded 0
Change 1,21
% Change 0
Cumulative volume 3428105
Market cap 43.74bn

Last Updated: 21-11-2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Netcare profit up 26%

Medi-Clinic announces R1.4bn spruce-up

Medi-Clinic posts 19% profit jump

Medi-Clinic earnings get a boost

Medi-Clinic plans R1.4bn rights offer

Medi-Clinic spends big in SA

 

Johannesburg - South Africa's second-biggest hospital group Medi-Clinic Corporation [JSE:MDC] posted a flat full-year profit in line with consensus, as a robust performance at home was offset in part by the stronger rand.

Medi-Clinic, which also runs hospitals in Namibia, Switzerland and the Middle East, said on Tuesday diluted headline earnings per share totalled 176.3 cents in the year to end-March from 172c a year earlier.

A Reuters poll of six analysts had expected headline EPS to be 176c.

While demand for private healthcare has increased in South Africa due to a rising middle class, Medi-Clinic faces stiff competition in its home market from rivals Life Healthcare Group Holdings [JSE:LHC] and Netcare [JSE:NTC].

The company has said it sees fewer growth opportunities in the Africa's biggest economy. Last year it launched a R1.4bn rights issue to help fund expansion in Switzerland, where it runs the biggest private hospital group.

Medi-Clinic said revenue rose 9% to R18.6bn with its southern African unit, lifting sales by 12% while the unfavourable currency swings hit revenue from its Swiss and Middle Eastern businesses

A stronger rand eats into overseas profits when those earnings are brought home.

Shares in Medi-Clinic, which are little changed so far this year, were up 1.45% at R29.31 by 12:26 GMT on Tuesday, outpacing rivals Netcare, which inched up 0.43%, and Life Healthcare, which lost 1.05%.

 
medi-clinic corporation
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.
 
 

BMW drift battle: M235i vs. speedway bike

Watch this insane drift contest with four-times dirt-track World champion Karl Maier riding a speedway bike against a BMW M235i.

 
 

Men24.com

Want to start talking dirty?
Everyday struggles of naturally skinny guys
And this year's Miss Bumbum title goes to...
How to maintain your mo, bro

Money Clinic

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