Johannesburg - South Africa's second-largest private hospital firm, Netcare, reported a 31 percent drop in full-year profit on Monday as its operations in Britain weighed on earnings.
Diluted headline earnings per share (EPS) fell to 117.1 cents for the year to end-September, compared with 170 cents the previous year.
The results were hit by a non-cash fair value accounting charge related to property leases in the United Kingdom.
Netcare runs Britain's largest private hospital network, BMI Healthcare.
Headline EPS is the main profit measure in South Africa and strips out certain one-off items.
When headline EPS is adjusted to separately disclose the exceptional nature of the swap instruments of the UK rent transaction, it totalled 199.5 cents, an increase of 5.6 percent.
Full-year revenue rose 12.1 percent to R37.8 billion.
Demand for private health-care services in SA is expected to remain resilient, the firm said.
Britain's decision to leave the European Union has had no measurable impact on the business to date, Netcare said.
REUTERS