Mediclinic sees Middles East as key

Photo: Thobile Mathonsi

Photo: Thobile Mathonsi

Published May 24, 2017

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Cape Town – Private healthcare group Mediclinic International says

it sees the Middle East as a key growth market after its revenue from the

region surged by 72 percent to AED3.109 billion for the year ended March.

The company says its focus during the period has been on

integrating the Abu Dhabi-based Al Noor Hospitals Group with the established

Mediclinic Middle East business in Dubai

“Our focus has been on steering the business in Abu

Dhabi towards a more sustainable long-term growth path. We expect a

gradual improvement in the Middle East platform as we progress

through the 2018 financial year and beyond,” the company says.

The group’s total revenue for the year under review was

up 30 percent to £2.749 billion, while its Southern Africa revenue

increased by 7 percent to R14.367 billion. The group says its operating profit

for the year under review grew by 26 percent to £362 million.

 

The group’s underlying earnings per share slid by 19

percent to 29.8 pence-it attributed this to the underperformance of its Abu

Dhabi business.  The group has proposed a total dividend of 7.90

pence for the year.

The group has in the period been opening new facilities

in Abhu Dhabi. These include Mediclinic Al Jowhara Hospital, clinics in

Ghayati and the creation of a new Comprehensive Cancer Centre at Mediclinic

Airport Road Hospital. The company says it earlier this year decided to re-brand

Al-Noor facilities to Mediclinic.

Read also:  Abu Dhabi continues to weigh on Mediclinic

The company in 2015 agreed to buy United Arab

Emirates' Al Noor Hospitals Group for around £1.4 billion. The deal

created London-listed group with 73 hospitals  with over 10 000 beds and

35 clinics.

The group says it will seek to assert itself as a leader

in its core markets and was well positioned to deliver sustainable long-term

growth."

"We continue to see growing demand for quality

healthcare services which is underpinned by an ageing population, growing

disease burden and technological innovation. This is why we place such an

emphasis on our Patients First strategy and continue to invest in our

facilities and people,” says the company.

BUSINESS REPORT ONLINE

 

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