Remgro expects lower h1 earnings – Reuters

REMGRO yesterday said it expects to report a more than 20% decline in H1 earnings due to once-off charges incurred by MEDICLINIC INTERNATIONAL when it refinanced the latter’s debt. MEDICLINIC, which is 34.2% owned by REMGRO, raised R5bn via a rights offer to refinance debt and fund expansion in Oct. REMGRO shares shed 1.14% yesterday before closing down 0.91% at R147.25 on the JSE. This news brief represents a summary of the original article.