October 16, 2019 / 7:07 AM / 4 months ago

Mediclinic International sees higher first-half core profit

Oct 16 (Reuters) - Mediclinic International Plc said on Wednesday it expects an increase in first-half core earnings, as the healthcare company’s Swiss business adjusted to regulatory changes and its South Africa and Middle East operations performed well.

The group, which is listed in London and Johannesburg, said reported revenue for the six months ended Sept. 30 was about 9% higher, and earnings before interest, tax, depreciation and amortization (EBITDA) before new accounting rules was up about 5%.

Mediclinic has faced stricter regulations in Switzerland that have hobbled growth and put pressure on margins. These include tariff reductions for outpatients and a less favourable insurance mix. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shounak Dasgupta)

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