Life Healthcare’s shares rise after upbeat trading update
Life Healthcare’s share price rose 2.45% to R29.71 on Monday morning after it said it expected to report its basic earnings more than quadrupled.The private hospital group said it expected to report on June 1 that its basic earnings per share (EPS) for the six months to end-March rose by between 320% and 335%.Growth in headline earnings per share (HEPS) was expected to be a more modest 110% and 121%.Life Healthcare said its earnings had been bolstered by the inclusion of its recent UK acquisition Alliance Medical for four of the six months in the reporting period.The comparative period’s earnings had been reduced by various one-off costs, including transactions costs of R254m and funding costs of R315m for the Alliance Medical deal, and also a R142m impairment of its Polish subsidiary Scanmed.Discussions relating to selling its half its Indian joint venture Max Healthcare to its partner were still under way, the trading update said.Revenue at its Southern African operations grew by ...
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.