Rede D'Or Stock Rises 7.7% as Higher Average Tickets Boosted 1Q Earnings

By Jeffrey T. Lewis

SÃO PAULO--Rede D'Or São Luiz's shares rose 7.7% after the Brazilian hospital and healthcare company's profit was boosted in the first quarter by higher average tickets--amounts billed for the treatment of a client.

Shares reached 28.06 reais, the equivalent of $5.68, and were down 12% from the end of last year through Monday's close. Brazil's benchmark Ibovespa stocks index was up 0.1% in mid-afternoon trading.

Rede D'Or said Monday after the close that its average ticket rose 11% from a year earlier, while the average ticket for the oncology unit grew 23% in the period.

The company also posted improved savings in costs and expenses, while its oncology unit grew strongly in volumes as well, Credit Suisse analysts Mauricio Cepeda and Pedro Caravina said in a research note.

Write to Jeffrey T. Lewis at [e-mail]

(END) Dow Jones Newswires

05-16-23 1359ET