NETCARE: 2,581 +21 (+0.82%)
South Africa's Netcare flags lower EBITDA margin, shares tumble
JOHANNESBURG, Sept 27 (Reuters) - Netcare, South
Africa's second-largest private hospital operator, said on
Thursday that it expected its full-year EBITDA margins to
decline by between 30 and 50 basis points from the previous
year, sending its shares to a seven-month low.
The prior year's earnings before interest, tax, depreciation
and amortisation (EBITDA) margin was 21.1 percent, it said in a
statement, citing difficult trading conditions in the second
half of the year.
Netcare's shares tumbled as much as 13 percent, a level last
seen in mid-February.
(Reporting by Nqobile Dludla
Editing by Alexander Winning)
© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.