Australia's Ramsay Health Care eyes best day in nearly 2 years on upbeat HY results

Ramsay Health Care

29/02/2024 02:42

(Updates shares, milestones, adds analyst comment)
    ** Shares of Ramsay Health Care  RHC.AX  jump as much as
7.7% to A$55.060, set for best day April 20, 2022, if current
gains hold
    ** The private hospital operator posts HY net profit after
tax attributable of A$758.5 mln ($492.65 mln), higher than
A$194.4 mln last year and in-line with consensus estimate 
    ** Posts HY total revenue and other income of A$8,058.1 mln,
up 10.5%
    ** Declares interim dividend 40 AU cents per share
    ** UBS analysts say result of co's UK hospitals division
strong and represents better performance from Elysium unit than
brokerage expectation
    ** UBS expects investors to focus on costs in RHC's
Australian business 
    ** Stock hits highest level since Aug 23, 2023 and among top
gainers on the ASX 200 benchmark index  .AXJO 
    ** Stock down 2.7% YTD, as of last close 

   ($1 = 1.5396 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))