Life Healthcare falls as profit disappoints

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Life Healthcare Supplied. One of Life Healthcare's hospitals in Parktown in Johannesburg. Photo supplied.

Shares of Life Healthcare tumble 3.6 percent to 32 rand after the South African private hospital group missed analyst forecasts with its full-year profit, hit by a write-down in the value of its one of its businesses.

Life Healthcare says diluted headline earnings rose 18 percent in the year to end-September, to 140.5 cents per share. That fell short of the 144 cents average estimate in a poll of nine analysts by Thomson Reuters.

The company says it wrote down the value of its Life Esidimeni business, which serves indigent patients.

It does not give a value or reason for the write-down. - Reuters

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