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Mediclinic profit jumps

May 21 2014 10:22
Reuters
Johannesburg - South Africa's biggest private hospital group Mediclinic International beat forecasts with a 46% surge in full-year profit on Wednesday, helped by favourable currency swings and a robust showing at home.

Mediclinic, which also operates in the Middle East and runs the largest private hospital network in Switzerland, said normalised diluted headline earnings per share totalled 369.1 cents, above a 367c estimate in a Reuters' poll of 10 analysts.

Sales rose 24% to R30.5bn.

Demand for private healthcare is increasing in South Africa as a fast-growing middle class takes up medical insurance, while the weaker rand has boosted overseas profits when they are brought back.

Shares in Mediclinic gained 1.4% to R79.10, outpacing a 0.3% fall in the blue-chip JSE Top-40 index

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