15th Oct 2020 09:58
(Alliance News) - Mediclinic International PLC on Thursday reported robust first-half operating performance despite the "significant" impact in April from Covid-19 containment measures.
The private hospital company reported revenue for the six months to the ens of September of GBP1.52 billion, down 7.0% on the prior year. On a constant currency basis, revenue decreased by 5.0% year-on-year.
Mediclinic highlighted that from May onwards, restrictions across its markets eased, enabling the reintroduction of its diverse service offering. Given the underlying demand, this resulted in a strong rebound in operating performance in Switzerland and the United Arab Emirates as the initial peak of the pandemic passed, tempered by a slower recovery in Southern Africa.
As at the end of September, cash and available facilities remained strong at around GBP450 million versus GBP518 million on March 31.
Going forward, Mediclinic said it remains cautious in the midst of uncertainty as to the full impact of the continuing pandemic and its economic aftermath on second-half company operating performance.
"The group delivered a robust first-half operating performance maintaining operational agility and financial strength while continuing to execute on our strategy," said Chief Executive Ronnie van der Merwe.
"However, we remain suitably cautious in the midst of uncertainty as to the severity, duration and full impact of the continuing COVID-19 pandemic, as well as its economic aftermath."
Mediclinic shares were trading 1.4% lower in Johannesburg on Thursday at ZAR62.25 each. In London, the stock was 0.9% lower at 289.40 pence a share.
By Evelina Grecenko; [email protected]
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