November 14, 2019 / 3:38 PM / 2 months ago

South Africa's Netcare expects FY HEPS to more than triple

Nov 14 (Reuters) - South Africa’s Netcare Ltd said on Thursday it expects full-year headline earnings per share to more than triple from 2018, when its earnings were hit by costs related to exiting its UK operations.

The private hospital firm forecast headline earnings per share of between 162.7 cents and 167.6 cents, compared with 49.3 cents it reported a year earlier.

Netcare, which competes with Life Healthcare and Mediclinic, last year decided to exit the UK and offload its interests in BMI Healthcare and GHG PropCo 2.

The company said adjusted HEPS from continuing operations is expected to be between 168.2 cents and 175.0 cents, compared with 171.6 cents last year.

Headline EPS is the main profit measure in South Africa and strips out certain one-off items. (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Anil D’Silva)

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