MDC.L Share News (MDC)

(Sharecast News) - Private healthcare group Mediclinic reported a rise in first-half earnings on Thursday amid revenue growth in all three divisions.
In the six months to 30 September, adjusted earnings before interest, tax, depreciation and amortisation grew 4% to £222m on revenue of £1.5bn, up 9%.

Revenue at Swiss business, Hirslanden, rose 10% to £696m, while South African revenue was up 4% at £469m and Middle East revenue pushed up 14% to £350m.

For FY20, Mediclinic expects "modest" revenue growth at Hirslanden, 1% growth in South Africa and around 10% revenue growth in the Middle East.

Chief executive officer Ronnie van der Merwe said: "The group delivered a solid first-half financial performance with all three divisions growing revenue, EBITDA and patient volumes. The operating performance was complemented by strong cash conversion.

"I am pleased with the progress we have made in adapting the business to current healthcare trends and changing regulatory environments, especially at Hirslanden in Switzerland."

He said the company was currently trading in line with expectations and reiterated full-year guidance.

At 1025 GMT, the shares were up 0.6% at 380.50p.