By David Winning
SYDNEY--Ramsay Health Care Ltd.'s global operations showed mixed results in the fiscal first quarter as it balanced evidence of a recovery in Australia with disruptions from a second-wave coronavirus outbreak in Europe.
"Surgical restrictions, regional outbreaks and lower demand for some services, combined with higher costs associated with operating in the current environment, have all impacted the results," said Chief Executive Craig McNally.
Ramsay's revenue in Australia rose by 1.5%, reflecting a 1.7% increase in surgical admissions and lower non-surgical activity. Excluding Victoria state, which faced a lockdown to suppress an outbreak of coronavirus, revenue increased by 6.6%.
In France, Ramsay said surgical volumes rose by around 5.4% on a year earlier and also faced lower non-surgical activity. Ramsay's U.K. business experienced a 9.9% decline in local-currency revenue, but management said volumes had picked up toward the end of the first quarter.
"Given the near-term uncertainties in the market stemming from the Covid-19 pandemic, Ramsay is not in a position to provide guidance for the 2021 fiscal year," the company said in a filing to the Australian Securities Exchange.
Write to David Winning at firstname.lastname@example.org
(END) Dow Jones Newswires