Life Healthcare revenue witnessed an increase attributing a 4.2% jump in group revenue to R13.5 billion from six months to end-March. This was reportedly caused by an improved demand for health services.
The results was a 4.5% increase in Southern African revenue to R9.5 billion and international revenue rising by 1.8% to R3.8 billion.
Normalized earnings before interest, taxation, depreciation and amortization (EBITDA) for the hospital group’s international operations fell 13.3% to R806 million from R930 million due to the ending of Covid-19-related support services to the NHS in the UK while its Southern African operations saw normalized EBITDA growth of 7.5% to R1.6 billion.
Headline earnings per share fell 12.7% to 41.4 cents. The board then approved an interim dividend of 15 cents per share for the period.
Life healthcare CEO Peter Wharton-Hood, said “the diminishing disruptions from recent Covid-19 waves, coupled with signs of normality returning, have driven an encouraging recovery in healthcare demand, which is reflected in these results.”
The group’s share price was up over 2% in morning trade.
“The group remains in a strong financial position, and we have demonstrated our ability to remain resilient during the numerous Covid-19 waves and other challenges including the recent flooding in KwaZulu-Natal… I am confident that Life Healthcare has emerged from the pandemic a more resilient and agile business.” He said.
