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Thursday, February 9, 2017

Increase in revenue and profits for Fortis Darné

The Medical and Surgical Centre Ltd, which is the owner of Fortis Darné and which recently acquired Apollo Bramwell, has announced an increase in revenue of 10,7% for the semester of its financial year 2016-2017. The Group also elaborates on the deal for Apollo Bramwell.

By the end of its first semester, ending 31st December, revenue generated by the Group’s activities come up to Rs 426,4 million compared to the amount of Rs 385,6 million in the previous similar period. After tax profits have increased to 4,9% to amount to Rs 41 million.

The Group consolidated its position as leader in the field of private medicine and high end technology in January. The group, which is a subsidiary of CIEL Healthcare Ltd, finalised the deal for Apollo Bramwell, which it considers as an important move. CIEL Healthcare aims to improve the level of healthcare in the country. According to the interim financial report published on the website of the Mauritius Stock Exchange, a deposit of Rs 598 million was made on an escrow account on the 31st December 2016. The deal was then finalised on 20th January 2017.

Even though Fortis Clinique Darné and Apollo Bramwell Hospital belong to the same group, they are managed by two different entities, with different management teams. Sukhmeet Sandhu, Head of International Operations for Fortis Healthcare, is in charge of Apollo Bramwell’s management.

This year, The Medical and Surgical Centre’s stock gained 13,5%. The group is listed on the secondary market of the Mauritius Stock Exchange. Over one year, it increased by 28,3%. During the session of 8th February, the title was exchanged at Rs2,95. According to stock exchange information, the transactions involved 9900 units, for an amount of Rs 29,205.

Le Défi Quotidien 9 February

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