November 23, 2018 / 6:20 AM / 24 days ago

UPDATE 1-South Africa's Life Healthcare FY earnings up 40.6 pct

(Adds details)

JOHANNESBURG, Nov 23 (Reuters) - South African private healthcare provider Life Healthcare reported on Friday a 40.6 percent jump in full-year earnings, helped by strong overall performance of its businesses.

Life Healthcare said headline earnings for the year ended September climbed to 108.8 cents from 77.4 cents a year earlier.

Headline earnings per share is the main profit measure in South Africa and strips out certain one-off items.

Normalised earnings before interest, tax, depreciation and amortization rose 10.7 percent to 5.5 billion rand ($399.69 million).

In southern Africa, revenue rose 8.5 percent as the hospitals and complementary services returned to positive paid patient day (PPD) growth — which represent customer stays in its hospitals — and continued to benefit from the strategy of expanding the complementary services business.

“In southern Africa, the group expects PPDs to continue to grow conservatively with continued good growth in complementary and healthcare services,” the firm said in a statement.

In Europe, its unit Alliance Medical reported a 30.8 percent jump in revenue due to the subsequent acquisitions of Italian clinics Imed and Centro Alfa as well as Piramal Imaging, the company said.

The weakening of the rand against the pound sterling and euro also contributed to the increase.

The group declared a final dividend of 50 cents per share, up 11.1 percent on year.

$1 = 13.7605 rand Reporting by Nqobile Dludla; Editing by Sunil Nair

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