April 24, 2019 / 10:08 AM / 4 months ago

South Africa's Life Healthcare warns on earnings after disposal

JOHANNESBURG, April 24 (Reuters) - South Africa’s Life Healthcare said on Wednesday half-year earnings could fall as much as 55 percent due to costs related to the disposal of its stake in India’s Max Healthcare, impairments and other investments.

The private hospital operator said it expects headline earnings per share (HEPS) for the six months ended March 31 of between 24.1 cents and 29.5 cents, down from 53.7 cents a year earlier.

HEPS is the main profit measure used in South Africa and strips out certain one-off items.

In September, Life Healthcare said it would sell its 49.7 percent stake in Max Healthcare to KKR-backed Radiant Life Care Pvt Ltd for 4.3 billion rand ($300 million).

$1 = 14.3247 rand Reporting by Nqobile Dludla; editing by Jason Neely

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