Russia’s Medsi swings to 103 mln rbl IFRS net loss in Jan–Mar

MOSCOW, Jun 5 (PRIME) -- Healthcare chain Medsi, part of multi-industry holding Sistema, posted a 103 million ruble net loss in January–March against a 288 million ruble net profit in the same period of 2017 as it had to increase amortization costs after launches of new clinics, and because of a higher cost of credits, Sistema said in a statement on Tuesday.

Revenue of Medsi grew 38.5% on the year to 3.511 billion rubles in the period, but operating income before depreciation and amortization (OIBDA) shrank 36.2% to 464 million rubles.

Sistema also said that Medsi received a net profit in January–March 2017 due to a one-time sale of assets. Excluding the factor, the company received a 200 million ruble net loss in the period.

The figures are calculated under International Financial Reporting Standards (IFRS).

(61.9290 rubles – U.S. $1)

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