Mediclinic flags drop in first-half core profit, shares dive 19 percent

Mediclinic on Wednesday flagged an 8 percent drop in core profit for the first six months of the year, sending its shares tumbling 19 percent.The private hospital group, which is listed in London and Johannesburg, blamed weaker-than-expected growth in admissions in Switzerland and a slow second quarter in Southern Africa.Group adjusted core profit, or EBITDA, would fall to 214 million pounds ($282 million) versus 232 million pounds in the same period a year ago.