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S.Africa's Mediclinic H1 earnings hit by weakness in Middle East, Switzerland
November 16, 2017 / 7:33 AM / a month ago

S.Africa's Mediclinic H1 earnings hit by weakness in Middle East, Switzerland

Nov 16 (Reuters) - Mediclinic International Plc , South Africa’s largest private hospital group, reported a 12 percent drop in underlying earnings per share in the first half of the year, hurt by weakness in its Middle East and Switzerland businesses.

The company, which has stakes in Britain’s Spire Healthcare and Switzerland’s Hirslanden, said underlying earnings per share fell to 11.3 pence for the six months ended Sept. 30, from 12.8 pence a year ago.

Mediclinic, which extended its reach into the United Arab Emirates when it bought Al Noor, said revenue in its Middle East business fell 5 percent to 1.48 billion dirhams ($402.95 million).

Total revenue rose 10 percent to 1.41 billion pounds ($1.85 billion).

$1 = 3.6729 UAE dirham $1 = 0.7610 pounds Reporting By Justin George Varghese in Bengaluru; Editing by Amrutha Gayathri

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