Mediclinic sees full-year loss widen

‘A high degree of uncertainty remains regarding the progression of the pandemic and its full impact.’
Image: Supplied

Mediclinic International Plc, owner of a chain of private hospitals in southern Africa, the Middle East and Switzerland, reported a net loss for the full year that ended on March 31, the company said on Tuesday.

The company reported a net loss of 315 million pounds ($394 million) for fiscal year 2019/2020 as compared with 151 million pound loss in 2018/19.

The British company, said its earnings before interest, tax, depreciation and amortisation (EBITDA) – its earnings from core business – came in at 480 million pounds, down 3% from the last fiscal year.

“A high degree of uncertainty remains regarding the progression of the pandemic and its full impact, which may well continue for at least the next 12 months,” Ronnie van der Merwe, Group Chief Executive Officer of Mediclinic said in a statement.

Mediclinic, which operates 77 hospitals in its three regions, suspended all non-essential capital expenditure and the dividend for the year to preserve cash during the pandemic, it had said in a statement in April.

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   1

You must be signed in to comment.

SIGN IN SIGN UP

….and on this news…. Your share price is up…. Love IT!!!

Now make sure…. you get this donkey of a company…. into the
raging bull it once was …when the share price was over R180 !!!

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: