Mediclinic Falls Most in More Than Year: Johannesburg Mover
Mediclinic International Ltd. (MDC) declined the most in more than a year after earnings per share for the 12 months through March missed expectations.
Shares in South Africa’s second-largest publicly traded private hospital group by market value fell 3 percent to 37.40 rand at in the close in Johannesburg, the biggest decline since April 2011.
Diluted earnings per share adjusted for one-time items increased 6.4 percent to 187.5 cents from a year earlier, the company said in a statement today, missing the 211.5 cent median estimate of seven analysts surveyed by Bloomberg.
The hospitals in Berne, Switzerland, “have faced a number of challenges, but the worst is over and in the next six to 12 months should be sorted,” Mediclinic Switzerland Chief Executive Officer Ole Wiesinger said today in a telephone interview from Stellenbosch, South Africa.
Mediclinic’s net income climbed to 1.22 billion rand ($148 million) for 12 months through March 31 from 1.18 billion rand a year earlier, the company said in a statement today as sales rose 18 percent. Switzerland accounted for 46 percent of the company’s revenue in 2011, according compiled by Bloomberg.
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