Mediclinic experiences 'good rebound' in trading since May
By Iain Gilbert
Date: Thursday 15 Oct 2020
(Sharecast News) - Private healthcare provider Mediclinic said on Thursday that its interim performance had been "robust" thanks to "a good rebound" in trading since May.
Mediclinic anticipates revenues for the six months ended 30 September to come in around 5% lower year-on-year on a constant currency basis than the £1.52bn pounds it reported at the same time a year earlier, while underlying earnings were projected to have fallen 33% from the £252.0m recorded twelve months prior.
The FTSE 250-listed firm stated its performance was driven by demand for its healthcare services during the Covid-19 pandemic, with an easing of restrictions in May helping revenues and profitability rebound from a hard hit trading performance in April.
Mediclinic highlighted that its recovery was particularly pronounced in Switzerland and the United Arab Emirates, while things recovered slightly slower in South Africa.
Chief executive Ronnie van der Merwe said: "We remain suitably cautious in the midst of uncertainty as to the severity, duration and full impact of the continuing Covid-19 pandemic, as well as its economic aftermath.
As of 0915 BST, Mediclinic shares were down 1.58% at 287.40p.
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