Mediclinic rises on rosier Middle East prospects
Operations in Switzerland, southern Africa and Dubai performed in line with expectations during the year to March — CEO Meintjies
Private-hospital group Mediclinic International’s share price looked rosier ahead of the Easter long weekend after the market responded well to a slightly better diagnosis on prospects for its Middle East operations. Mediclinic CEO Danie Meintjes reported on Thursday that the company’s two largest platforms — Switzerland and southern Africa — as well as the Dubai-based businesses performed in line with expectations during the year to March. He reiterated previous disclosures about difficulty at the Abu Dhabi business, which was affected by regulatory change and other challenges. Mediclinic aimed at resolving the issues in Abu Dhabi and stabilising performance in the Middle East, Meintjes said. The company, which was still confident about long-term growth opportunities in the Middle East, expected performance in the region to improve in the year ahead. Meintjes said Mediclinic Middle East’s revenue was down 8% with the Dubai business performing well and the Abu Dhabi business lagging...
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