JSE likely to offer investors some Black Friday bargains
The rand held on to most of its gains overnight, trading at R13.76/$, R15.71/€ and R17.73/£.
While the stronger rand will compound Naspers’s and BHP’s woes, retailers may benefit from cheaper imports ahead of Christmas.
Life Healthcare completes the JSE’s trio of private hospital group results on Friday.
In contrast with Mediclinic, which was dragged into a loss by its Swiss hospitals, and Netcare, whose earnings were halved by its UK hospitals, Life Healthcare managed to sell its 49.7% of problematic Indian joint-venture Max Healthcare for R4.3bn in September.
Life Healthcare said on November 9 that it expected to report that headline earnings per share (HEPS) grew by up to 45%.
The trading statement did not mention the windfall from the Indian disposal, indicating it may be booked only in the financial year under way.
Basic earnings per share grew 77% because in the comparative period’s results they were dragged down by an impairment of R167m of the group’s Polish subsidiary Scanmed and an accounting loss of sales of assets in Southern Africa.
Source: businesslive.co.za
