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.
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