(Alliance News) - Mediclinic International PLC on Thursday said it swung to a first-half profit, helped by a revenue rise and the non-repeat of an impairment charge.
In the six months to September 30, revenue grew 9.0% year-on-year to GBP1.52 billion from GBP1.39 billion.
The private hospital group reported pretax profit of GBP111 million, from a GBP150 million loss last year.
Helping the profit swing was the non-repeat of GBP164 million in impairments "of equity accounted investment", numbers showed.
Mediclinic held its interim dividend at 3.20 pence per share.
In its Hirslanden unit, a Swiss private hospital group, revenue grew by 10% to GBP696 million from GBP631 million.
South African revenue edged 3.8% higher year-on-year to GBP469 million from GBP452 million. Mediclinic operates 53 hospitals in South Africa and Namibia.
There was 14% revenue growth in the Middle East region to GBP350 million from GBP307 million.
Mediclinic added that it is trading in line with expectations, and it affirmed its full-year guidance.
Looking ahead, the company expects 10% revenue growth in the Middle East, a "modest" revenue climb in Hirslanden, and volume growth of around 1% in Southern Africa.
In London, Mediclinic shares were 0.7% higher at 381.00 pence each early Thursday. In Johannesburg they were up 0.4% at ZAR72.80
By Eric Cunha; ericcunha@alliancenews.com
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