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Life Healthcare falls as profit disappoints

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.

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

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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