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Mediclinic Slips To FY18 Loss, Dividend Flat; FY19 View Unchanged; Stock Dips

Mediclinic International plc (MDC.L), a private healthcare services group, reported Thursday that its fiscal 2018 loss attributable to shareholders was 492 million pounds, compared to profit of 229 million pounds last year.

The latest results were impacted by non-cash Spire impairment charge and other exceptional items.

Loss per share were 66.7 pence, compared to profit of 31.0 pence a year ago.

Adjusted earnings were 221 million pounds or 30 pence per share, compared to 220 million pounds or 29.8 pence per share last year, reflecting lower income from associates.

Adjusted EBITDA went up 3% to 515 million pounds, while it was flat in constant currency terms.

Revenue grew 4% to 2.87 billion pounds from 2.75 billion pounds last year. Revenues grew 3% in constant currency terms.

Further, the company proposed a final dividend of 4.70 pence per share, same as last year, resulting total dividend for the year of 7.90 pence per share.

Looking ahead, the company said the current trading is in line with management expectations, and the guidance for FY19 remains unchanged.

Separately, Mediclinic announced that the Board agreed that, subject to Danie Meintjes' re-election as a director of the Company at the Annual General Meeting to be held on 25 July 2018, he will continue to serve as an executive director until July 31 and as a non-executive director with effect from August 1.

As previously announced, Ronnie van der Merwe will succeed Meintjes as Chief Executive Director on June 1.

In London, Mediclinic shares were trading at 654.60 pence, down 3.7 percent.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

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