S.Africa's Life Healthcare full-year profit more than doubles, reinstates dividend (updated)

King International Investment

18/11/2021 05:58

(Adds details)
    JOHANNESBURG, Nov 18 (Reuters) - Hospital chain operator
Life Healthcare  LHCJ.J  said on Thursday that its profit for
the year that ended Sept. 30 rose 128% from a year earlier,
boosted by its international business and a good performance in
southern Africa.
    With an increased pace of vaccinations, especially in
Europe, hospital procedures have started to return to normal,
boosting revenues and profits for hospital chains, rebounding
from the pandemic-induced doldrums that prompted people to
postpone non-essential healthcare procedures, such as surgeries
or general treatments and tests. 
    Life Healthcare reinstated its dividend, which had been
suspended last year to conserve cash, and announced a dividend
per share of 25 cents.
    The company posted a headline earnings per share - the main
measure of corporate profit in South Africa - of 111.1 South
African cents per share, as against 48.7 cents per share
reported for the same period a year ago.
    Life Healthcare, which provides diagnostic services across
Europe and the U.K. and runs one of the biggest chain of
hospitals in Southern Africa, recorded a 12.7% rise in revenues
to 26.9 billion rand ($1.74 billion) for the year.
    This was mainly led by an almost 18% rise in international
revenues which contributes a quarter of its total turnover.
    
    ($1 = 15.4760 rand)

 (Reporting by Promit Mukherjee; Editing by Muralikumar
Anantharaman and Shailesh Kuber)
 ((promit.mukherjee@thomsonreuters.com; +27 64833 4448;))