Rising interest rates hit companies in plenty of ways – hospital operator Ramsay Health Care has reminded us it makes it harder to invest for growth.
Ramsay, under fire for some past capital allocation decisions, said it now needs 12 per cent returns on any new brownfield/greenfield development or M&A to get investment approval, and for it to be earnings per share accretive.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
