News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexCryptocurrenciesCybersecurityPress Releases

S.African hospital operator Mediclinic doubles profit, reinstates dividend

05/25/2022 | 03:33am EDT
FILE PHOTO: The Mediclinic logo at a hospital in Dubai

JOHANNESBURG (Reuters) - South African hospital chain operator Mediclinic International is reinstating dividends after almost doubling full-year profit, it said on Wednesday.

The London-listed company's headline earnings per share for the year to March 31 rose to 19 pence from 9.6 pence a year earlier, driven mainly by increasing patient numbers as coronavirus restrictions eased.

The company announced a dividend of 3 pence per share.

Healthcare providers were hit hard in 2020 and partly in 2021 as the COVID-19 pandemic forced people to postpone non-essential hospital procedures.

But as vaccination rates increased and successive waves of COVID-19 proved to be less deadly, people resumed hospital visits, helping to boost revenue and profit at private hospitals.

Mediclinic, which owns a chain of private hospitals in southern Africa, the Middle East and Switzerland, posted annual revenue up 8% at 3.2 billion pounds ($4.01 billion), exceeding pre-pandemic levels, the company said.

However, profit has yet to reach its pre-pandemic level of 26.9 pence per share.

($1 = 0.7983 pounds)

(Reporting by Promit Mukherjee; Editing by David Goodman)


© Reuters 2022
Latest news "Economy & Forex"
05:51pU.S. Senate passes major $430 billion bill
RE
05:40pLondon's Horniman Museum to return Benin Bronzes to Nigeria
RE
05:37pLondon's Horniman Museum to return Benin Bronzes to Nigeria
RE
05:05pAutomaker group says u.s senate climate, health bill approved su…
RE
04:54pU.S. Senate approves bill to fight climate change, cut drug costs in win for Biden
RE
03:27pUkraine's Zelenskiy rules out talks if Russia holds referendums
RE
03:18pU.S. Senate passes $430 billion climate change, tax, drug pricing bill; sends to House
RE
02:52pGerman consul arrested in Brazil over husband's death
RE
02:51pChad and rebels to sign deal after months of talks
RE
02:46pFirefighters battle wildfire on Croatian island after man dies
RE
Latest news "Economy & Forex"