Mediclinic Intnl plc - Pre-Close Trading Update
Company Number: 08338604
LSE Share Code: MDC
JSE Share Code: MEI
NSX Share Code: MEP
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
PRE-CLOSE TRADING UPDATE
"Trading is in line with management's expectations. In Southern Africa and
"We continue to see growing demand for cost-effective quality private healthcare services and remain focused on ensuring our patients receive quality clinical care and benefit from the Group's ongoing investment in skills, training, technology and infrastructure. Despite the industry trends of growing competition and regulatory initiatives, Mediclinic is well positioned to maintain consistent growth."
Group trading for the five months ended
Total revenue for the first five months of the year was R6,054m, delivered against weak macro-economic conditions and increased competition.
Underlying EBITDA margins for H1FY17 are expected to be marginally lower than the prior year comparator (H1FY16: 21.6%), impacted by higher price increases on pharmaceuticals (zero margin), investment in additional clinical personnel in line with the Group's strategy of improving quality clinical care and the alignment of salary increases for certain clinical personnel.
Total revenue for the first five months of the year was
Underlying EBITDA margins for H1FY17 remain stable versus the prior year period (H1FY16: 18.1%).
As indicated in the trading update on
Total revenue for the first five months of the year was AED1,315m and underlying EBITDA margins for H1FY17 are expected to be around 11%, largely due to business and operational alignment, the introduction of a 20% co-payment for Thiqa members using private healthcare facilities from
The full year 2016/17 guidance remains unchanged across Mediclinic's three platforms:
- At Hirslanden, given our high occupancy levels, we anticipate modest growth at stable margins.
- Mediclinic Middle East is expected to deliver low to mid-single digit revenue growth and underlying EBITDA margins of mid to high teens with performance being materially second half weighted.
The financial information on which this statement is based has not been reviewed and reported on by Mediclinic's external auditors.
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This information is provided by RNS