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Mediclinic expects revenue, earnings drop in H1
StockMarketWire.com
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Healthcare services company Mediclinic International's revenue for the first half of its financial year dropped by 7% on the impact of the COVID-19 pandemic.
Ahead of its full first-half results, to be published on 12 November, the company said it expected revenue to be 7% lower than the £1.5 billion recorded in the first six months of the previous financial year.
Reported earnings before interest, taxes, depreciation, and amortisation are expected to be 33% lower than the same period last year (£252 million).
CEO Ronnie van der Merwe said: 'The group delivered a robust first-half operating performance maintaining operational agility and financial strength while continuing to execute on our strategy.
'We have seen a good rebound in trading since May 2020, particularly in Switzerland and the United Arab Emirates, as the initial peak of the pandemic passed.
'However, 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.'
Story provided by StockMarketWire.com
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