Netcare plans R2bn in capital expenditure
by Staff writer,
2015-11-23 10:23:00.0
PRIVATE hospital group Netcare expects higher demand for its services in 2016.
It said on Monday that planned capital expenditure in South Africa would remain high at about R2bn — covering 44 new beds, the relocation of Netcare Christiaan Barnard Memorial Hospital, refurbishments and a substantial expansion of Netcare Milpark Hospital.
In the UK, Netcare said it would invest about £40m.
"Netcare will pursue a strategy of targeted investment for future growth and also has opportunity to leverage existing capacity," the group said.
In the year ended September 30 2015, Netcare reported adjusted headline earnings per share of 189c, up 12.6% compared with a year ago.
Group revenue rose 6.1% to R33.7bn and profit after tax increased 16.5% to R3.4bn.
Netcare declared a final dividend of 54c per share.
The group said its South African business delivered a solid performance in a difficult economic environment. Strict cost management had improved operational efficiency, it said.
There had been some improvement in its UK operations, Netcare said, but subscriber numbers continued to decline as customers sought the services of the National Health Service.
Since the release of its full-year results in 2014, Netcare’s share price has risen 15%.
At 9.30am, Netcare was trading at R38.68, valuing the company at about R56.98bn.
Netcare. Picture: FINANCIAL MAIL
PRIVATE hospital group Netcare expects higher demand for its services in 2016.
It said on Monday that planned capital expenditure in South Africa would remain high at about R2bn — covering 44 new beds, the relocation of Netcare Christiaan Barnard Memorial Hospital, refurbishments and a substantial expansion of Netcare Milpark Hospital.
In the UK, Netcare said it would invest about £40m.
"Netcare will pursue a strategy of targeted investment for future growth and also has opportunity to leverage existing capacity," the group said.
In the year ended September 30 2015, Netcare reported adjusted headline earnings per share of 189c, up 12.6% compared with a year ago.
Group revenue rose 6.1% to R33.7bn and profit after tax increased 16.5% to R3.4bn.
Netcare declared a final dividend of 54c per share.
The group said its South African business delivered a solid performance in a difficult economic environment. Strict cost management had improved operational efficiency, it said.
There had been some improvement in its UK operations, Netcare said, but subscriber numbers continued to decline as customers sought the services of the National Health Service.
Since the release of its full-year results in 2014, Netcare’s share price has risen 15%.
At 9.30am, Netcare was trading at R38.68, valuing the company at about R56.98bn.
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