Mediclinic flags drop in profit

Mediclinic yesterday flagged an 8% drop in core profit for the first six months, sending its shares tumbling 19%.

The private hospital group blamed weaker-than-expected growth in admissions in Switzerland and a slow second quarter in Southern Africa.

Group adjusted core profit, or EBITDA, would fall to £214 million (R3.9 billion) versus £232 million in the same period a year ago. – Reuters