JOHANNESBURG (Reuters) - South Africa’s Life Healthcare Group on Tuesday reported a 57 percent plunge in full-year profit after write-offs on its Polish business and the cost of acquiring Britain’s Alliance Medical weighed on earnings.
Headline earnings per share (EPS) declined to 77.4 cents for the year ended September, compared with 179.1 cents a year ago.
“The group’s earnings have been impacted by the one-off items related to the Alliance Medical acquisition and further impairment of the investment in Poland,” the company said in a statement.
Headline EPS is the main profit measure in South Africa and strips out certain one-off items.
Reporting by TJ Strydom; Editing by Sherry Jacob-Phillips