UPDATED - Following our interview with Stephen Collier, CEO of BMI, shares in Netcare, the South African hospital chain that owns General Hospital Group, the UK's largest hospital chain, which trades as BMI, rose 2.4% to ZAR 2,468 (€181) on full-year results that saw sales rise 10% to ZAR 27.8bn (€2.03bn), with adjusted earnings per share ahead 25% at ZAR 1.42 (€0.10), thanks to strong South African performance. Sales at BMI, however, rose just 2% to £851m, with EBITDA at £65.4m before exceptionals, and EBIT at just 0.7%, nonetheless reversing previous losses. A fall in private patients was outweighed by treated more patients from the NHS. There is also increasing hope that the UK's Competition Commission may have to rethink its highly critical findings regarding the group, which could see BMI forced to divest no fewer than ten hospitals.
November 18, 2013