SA, UK op­er­a­tions help grow rev­enue

The Star Early Edition - - COMPANIES -

GROUP rev­enue for Net­care in­creased 16.1 per­cent to R31.78 bil­lion for the fi­nan­cial year to Septem­ber, the pri­vate health-care provider said yes­ter­day. Its South African and UK op­er­a­tions grew rev­enue in their re­spec­tive lo­cal cur­ren­cies, Net­care said. Group rev­enue in 2013 was R27.38bn. In South Africa, rev­enue grew 7.4 per­cent to R16.27bn this year, com­pared to R15.15bn last year. “The de­mand for pri­vate health care in South Africa is ex­pected to re­main strong, which will support Net­care’s growth over the next few years,” said group chief ex­ec­u­tive Richard Fried­land. “We will con­tinue to fo­cus on cost con­tain­ment and op­ti­mi­sa­tion ini­tia­tives to en­sure op­er­a­tional ex­cel­lence, broad-based qual­ity im­prove­ment and su­pe­rior pa­tient care.” He said the South African hos­pi­tals and emer­gency ser­vices di­vi­sion was go­ing through a “strong ex­pan­sion­ary phase”, which in­cluded con­struc­tion of a 100-bed hos­pi­tal in Pine­haven, west of Jo­han­nes­burg. A 170-bed hos­pi­tal was also be­ing built in Polok­wane. The group’s nor­malised earn­ings be­fore in­ter­est, tax, de­pre­ci­a­tion and amor­ti­sa­tion in­creased by 18.3 per­cent to R6.87bn com­pared to R5.8bn in 2013. Its shares surged 6.89 per­cent to R35.99. – Sapa

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