Mediclinic benefits from weak rand
by Staff Writer,
2015-11-12 08:50:28.0
MEDICLINIC on Thursday said it continues to see "strong demand" for its healthcare services in the regions in which it operates.
The private hospital group said the desire for "quality" private healthcare had helped it lift profits in the interim period.
"Mediclinic has continued to deliver strong revenue and profit growth. Our three operating platforms in southern Africa, the Middle East and Switzerland have all achieved good growth in patient numbers and we continue to invest in buildings, technology and people to ensure we offer high-quality private healthcare services to both in- and out-patients.
"The group’s earnings, which are reported in South African rand, were again positively impacted by currency movements. Our Swiss, Middle East and UK platforms contributed 66% of adjusted normalised headline earnings," the company said.
In the six months ended September 2015, Mediclinic reported adjusted basic normalised headline earnings per share (HEPS) of 214.1c, up 19% from the year-earlier period.
Revenue was up 16% to R19.6bn and earnings before interest, tax, depreciation and amortisation rose 16% to R3.9bn.
Mediclinic declared an interim gross cash dividend of 36c per share.
The company said it had spent R1.5bn in capital projects in all three operating platforms.
It said its proposed combination with the Al Noor Hospitals Group, based in Abu Dhabi and listed on the London Stock Exchange, remained subject to various conditions, including shareholder approval.
Looking ahead, CEO Danie Meintjes said he expected the group to continue to perform well.
"We are pleased to announce a strong set of interim results, with revenue and profits demonstrating the success of our strategy. This is against a market backdrop of increasing demand for our services providing geographic expansion opportunities.
"With both a strengthened balance sheet via a successful rights issue, and capital investments made during the period, Mediclinic remains well positioned for future growth," said Mr Meintjes.
Mediclinic shares have steadily risen in the past year with the market cap growing 22%.
At the close of the JSE on Wednesday, Mediclinic shares were trading at R119.50, valuing the company at about R117bn.
Picture: THINKSTOCK
MEDICLINIC on Thursday said it continues to see "strong demand" for its healthcare services in the regions in which it operates.
The private hospital group said the desire for "quality" private healthcare had helped it lift profits in the interim period.
"Mediclinic has continued to deliver strong revenue and profit growth. Our three operating platforms in southern Africa, the Middle East and Switzerland have all achieved good growth in patient numbers and we continue to invest in buildings, technology and people to ensure we offer high-quality private healthcare services to both in- and out-patients.
"The group’s earnings, which are reported in South African rand, were again positively impacted by currency movements. Our Swiss, Middle East and UK platforms contributed 66% of adjusted normalised headline earnings," the company said.
In the six months ended September 2015, Mediclinic reported adjusted basic normalised headline earnings per share (HEPS) of 214.1c, up 19% from the year-earlier period.
Revenue was up 16% to R19.6bn and earnings before interest, tax, depreciation and amortisation rose 16% to R3.9bn.
Mediclinic declared an interim gross cash dividend of 36c per share.
The company said it had spent R1.5bn in capital projects in all three operating platforms.
It said its proposed combination with the Al Noor Hospitals Group, based in Abu Dhabi and listed on the London Stock Exchange, remained subject to various conditions, including shareholder approval.
Looking ahead, CEO Danie Meintjes said he expected the group to continue to perform well.
"We are pleased to announce a strong set of interim results, with revenue and profits demonstrating the success of our strategy. This is against a market backdrop of increasing demand for our services providing geographic expansion opportunities.
"With both a strengthened balance sheet via a successful rights issue, and capital investments made during the period, Mediclinic remains well positioned for future growth," said Mr Meintjes.
Mediclinic shares have steadily risen in the past year with the market cap growing 22%.
At the close of the JSE on Wednesday, Mediclinic shares were trading at R119.50, valuing the company at about R117bn.
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