n Personal Finance Newsletter - Netcare slides on disappointing interim results : markets
|Article Title||Netcare slides on disappointing interim results : markets|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Personal Finance Newsletter|
|Publication Date||Jun 2016|
|Pages||6 - 7|
Netcare limited had shed more than 8% by the afternoon as market participants dumped the stock following disappointing interim results released on 16 May 2016, which reflected pressure on earnings growth across the private hospital group's South Africa and UK businesses. Excluding the impact of a weak rand, group revenue would have grown just 3.6% for the six months to 31 March 2016. Currency conversion contributed R1.9 billion to the growth in revenue, which instead rose 15.4% to R18.8 billion. The rand was (on average) 24.4% weaker against the pound over the period, Netcare explained in a stock exchange filing.
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