2nd Jun 2020 09:19
(Alliance News) - Mediclinic International PLC on Tuesday reported a mixed performance for its most recently ended financial year and suspended its final dividend payment.
The Africa and UAE-focused private hospitals operator reported revenue growth of 5% to GBP3.08 billion for the year to the end of March from GBP2.93 billion a year ago.
On a constant currency basis, revenue increased by 4%, reflecting balanced organic growth and incremental acquisitions.
The company's pretax loss widened, however, to GBP275 million from GBP137 million, as impairment of intangible assets rose to GBP485 million from GBP55 million year-on-year.
Mediclinic has suspended its final payout for financial 2020. Total dividend for the period amounted to 3.20 pence a share, down sharply from 7.90p a share a year earlier.
"In the midst of the Covid-19 pandemic, it is important to note the strong operational progress the group has made against our stated priorities. We have continued to adapt the group to the changing healthcare environment, entering the Covid-19 pandemic in a strong position and well-set to deliver expected growth in the future," said Chief Executive Ronnie van der Merwe.
Mediclinic shares were trading 7.6% higher in Johannesburg on Tuesday at ZAR63.51 each, while in London, the stock was up 5.9% at 290.60p a share.
By Evelina Grecenko; [email protected]
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