Mediclinic shares drop sharply on results, Spire news
Underlying interim earnings fell 11% and the hospital group posted a loss attributable to shareholders of £50m
Mediclinic International's share price fell as much as 6% to R105 on Thursday after it reported an interim loss and indicated it may reduce its bid to buy the 70% of UK associate Spire Healthcare it does not already own. London-listed Spire Healthcare's share price fell 7% to 275p after Mediclinic said it would "take into account the movement in its share price since October 17" when considering a final bid it is required to make by 5pm on Friday under London Stock Exchange rules. "There can be no certainty that an offer will be made," Mediclinic said in a statement on Thursday. Spire said on October 23 it considered Mediclinic's offer of 0.232 Mediclinic shares and 150p per share in cash too low. Mediclinic International incurred a loss attritutable to shareholders of £50m in the six months to end-September, which it blamed on the impairment charge on the equity investment in Spire Healthcare Group and other exceptional items. Mediclinic’s underlying earnings were down 11% to £84m...
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