Mediclinic reports rise in FY underlying earnings

(Reuters) - South Africa's biggest private hospital group, Mediclinic International, reported a 3 percent rise in underlying full-year profit on Wednesday in its first results after taking over London-listed Al Noor Hospitals Group. Mediclinic has expanded outside South Africa with acquisitions, taking stakes in Britain's Spire Healthcare and Switzerland's Hirslanden and completing a reverse takeover of Al Noor in February in order to list in London. Mediclinic said the combined group's revenue rose 7 percent to 2.1 billion pounds ($3.07 billion) and operating profit was down 17 percent on the comparative number in 2015. Underlying earnings rose 13 percent to 219 million pounds. "We are continuing to see a strong demand for quality private healthcare services across our three operating platforms," the company said, referring to its businesses in the United Arab Emirates, South Africa and Switzerland. ($1 = 0.6841 pounds) (Reporting by TJ Strydom, editing by Louise Heavens)