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Remgro falls, earnings down

Nov 28 2012 16:31
Reuters

Company Data

REMGRO LIMITED [JSE:REM]

Last traded 131
Change 5
% Change 4
Cumulative volume 1425585
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Shares of Remgro [JSE:REM] fell by more than 1% after the company said it is likely to report a more than 20% drop in first-half earnings due to once-off charges incurred by Mediclinic International when it refinanced its debt.

Mediclinic, which is 34.2% owned by Remgro, raised R5bn via a rights offer to refinance debt and fund expansion in October.

By 13:32, Remgro shares were down 1.14% at R146.91, compared with a 0.84% drop in the JSE Top-40 blue chip index.

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