Netcare removes its 2020 earnings guidance

DURBAN – Private hospital group Netcare has decided to remove its earnings guidance for the year to end September due to uncertainty around the impact of the Covid-19 outbreak.

The group released an investor update yesterday, and said the impact of Covid-19 introduced significant forecast risk for the business.

“Moreover, due to the increasing communal spread of the virus, Netcare has escalated its state of preparedness.

“Given the high level of uncertainty surrounding the impact and possible knock-on effects of Covid-19, coupled with the suspension of non- essential elective surgery as a result of the 21-day national lockdown, Netcare has decided to withdraw the financial year 2020 full-year guidance,” the group said.

It also said that it would be better positioned to provide an updated guidance at the time of publishing its interim results in May.

Source: iol.co.za