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Life Healthcare says option contracts dented earnings

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The marked-to-market loss on the contracts in place during the interim period was R256m net of tax

CEO of Life Healthcare Group Shrey Viranna. Picture: FINANCIAL MAIL/FREDDY MAVUNDA

After agreeing to sell its stake in Max Healthcare — it expects proceeds of R3.9bn — the group entered into foreign exchange option contracts to mitigate the risk of currency fluctuations before the deal was closed. Meanwhile, group revenue grew by up to 10.4% to R12.5bn thanks to an increase of up to 21.7% in the international operations.

 

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