Life Healthcare takes profit hit from hedging contract
24 October 2019 - 11:04
Private hospital group Life Healthcare said on Thursday hedging losses on the proceeds from its disposal of Indian hospital group Max Healthcare had taken a bite out of its profits for the year to end-September.
The disposal of Max Healthcare would result in profit on the sale of about R1.5bn, the company said, but this was reduced by the effect of the mark-to-market loss on the foreign exchange contracts, taken out to protect the proceeds...
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