Mediclinic FY revenues top pre-pandemic levels

25th May 2022 07:41

(Sharecast News) - Private hospital group operator Mediclinic reported a jump in full-year operating profit on Wednesday, with revenues above pre-pandemic levels as client activity increased, as it reinstated its dividend.

In the year to the end of March, operating profit rose 34% to £280m, with revenues up 8% on the year to £3.2bn, and 5% higher versus pre-pandemic levels.

Group adjusted earnings per share came in at 22.6p, up 65% on the year, and Mediclinic proposed the reinstatement of its dividend at 3p a share.

Adjusted earnings before interest, taxes, depreciation and amortisation rose 22% on the year to £522m, beating market expectations of £516.6m.

Chief executive Dr Ronnie van der Merwe said: "The group delivered a strong operational and financial performance this year, driven by increased client activity across our care settings. As disruption from the pandemic receded, the fundamental demand for our broad range of healthcare services drove inpatient and day case revenue up 7%, and outpatient revenue up 10% compared with the prior year.

"Encouragingly, revenue and earnings exceeded pre-pandemic FY20 levels in all three divisions."

Looking to the year ahead, Mediclinic said it expects to benefit from a continued increase in client activity, which will drive further improvement in profitability and earnings.

At 0825 BST, the shares were up 2.5% at 363.80p.