Private day clinics group Advanced Health, which operates in SA and Australia, swung into a loss in the six months to December 2016, despite a 45% increase in revenue.The group reported a diluted headline loss per share of 10.52c compared with headline earnings per share of 0.51c in the same period in the previous year. The company said many of its recently opened hospitals would begin to show profitability only in the next three years and the headline loss for the year was due to a rapid rise in costs as the company brought new hospitals online."Key performance indicators aptly reflect the strong growth in new facilities, which require up to 36 months to achieve profitability. Eight South African facilities are still in ramp-up, as are the new and merged facilities in Australia. Revenue and patient numbers have increased in both operating regions and in SA steps have been taken to expedite the achievement of capacity and profit," said CEO Carl Grillenberger.Australian operations co...
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