Johannesburg - South Africa's biggest private hospital group, Mediclinic International, reported a 3 percent rise in underlying full-year profit on Wednesday in its first results after taking over London-listed Al Noor Hospitals Group.
Mediclinic has expanded outside South Africa with acquisitions, taking stakes in Britain's Spire Healthcare and Switzerland's Hirslanden and completing a reverse takeover of Al Noor in February in order to list in London.
Read also: Mediclinic, Al Noor complete their deal
Mediclinic said the combined group's revenue rose 7 percent to 2.1 billion pounds ($3.07 billion) and operating profit was down 17 percent on the comparative number in 2015. Underlying earnings rose 13 percent to 219 million pounds.
“We are continuing to see a strong demand for quality private healthcare services across our three operating platforms,” the company said, referring to its businesses in the United Arab Emirates, South Africa and Switzerland.
REUTERS