Mediclinic have released a trading update this morning. Here is a Full Year 2017 Trading Update. I think that at face value it looks a little weak, relative to the expectations from the past, what is happening now is quite simple really. Consolidation after a significant growth phase, a slowing of their core markets and the share price has definitely reflected that. This trading statement fleshes out all the regions, being of course here locally, in which they seem to have performed better than some of their peers.
The market likes it a lot, the stock locally is up nearly four percent. In London it is up over four percent on the session, year to date in Pound Sterling the share price is flat. Over the last year however, the stock is down sharply, down over 40 percent from the highs. Coupled with the weaker Pound sterling, that has not been a good mix for the ZA share price. We think, and we will no doubt see this when the company reports in early May, that the market will react positively to the numbers.