Netcare adjusted HEPS expected to fall, partly due to exchange-rate factors
On Thursday, hospital group Netcare said its adjusted headline earnings per share (HEPS) for the first half of its 2017 financial year were expected to be between 9% and 13% lower than the adjusted HEPS of 91c reported for the first half of 2016. This was owing to, among other factors, the expected effect of currency conversion due to the stronger rand. In a pre-close trading update, it noted that the average rand exchange rate against the pound had been considerably stronger in the period under review, which would negatively affect the conversion of the UK results. Its South African hospitals and emergency services division had also experienced a very challenging period of trading for the period under review, characterised by low growth in the local economy and in total medical scheme beneficiaries. "The results for the period under review have also been adversely impacted within our emergency services division by the significant reduction in revenues from industrial sites in Mozam...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.