With Mediclinic having guided the market on its full-year numbers and outlook last month, the company’s house brokers were expecting the response from investors about the final results yesterday to be muted (Alex Ralph writes).
However, shares in the private hospitals group fell by 9.4 per cent to 615½p on the London Stock Exchange. This drop left Mediclinic bottom of the FTSE 100, albeit with a share price that is now only back to where it traded last month.
The response seemed a little overdone, given that the results for the year to the end of March were in line with expectations and the guidance for 2019 was reiterated.
Mediclinic, founded in 1983, is one of the least known constituents of the FTSE 100, largely