(Alliance News) - Mediclinic International PLC said on Thursday it had delivered a strong operational and financial performance for the year as a result of increased client activity, with revenue now exceeding pre-pandemic levels.
The Stellenbosch-based private hospitals operator will release its results for the year ended March 31 on May 25.
Revenue rose 7.8% to GBP3.23 billion for the year to March 31 from GBP2.99 billion in the prior year. In 2020, revenue stood at GBP3.08 billion.
Earnings before interest, taxes, depreciation and amortisation margin, which measures a company's operating profit as a percentage of its revenue, improved to 16% from 14%.
Mediclinic Chief Executive Ronnie van der Merwe said the group had delivered a strong operational and financial performance this year.
"We have successfully navigated further waves of Covid-19 and delivered FY22 results in line with our improved outlook. The volume growth delivered this year translated into group revenue now ahead of pre-pandemic levels with a materially improved group Ebitda margin compared with the prior year," Van der Merwe said.
The Omicron variant of coronavirus, which was first discovered in South Africa in November, was particularly challenging from a staffing and patient scheduling perspective, he said.
The group said it expected positive momentum in client activity to drive revenue growth and margins in the coming year.
Shares in Mediclinic International were 0.1% lower in London at 386.20 pence on Thursday, while its Johannesburg shares were up 2.2% at ZAR74.44.
By Artwell Dlamini; artwelldlamini@alliancenews.com
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