Netcare issues dividend on jump in full-year profit
SA’s third-largest private hospital operator by market value managed to further cut the length of stay for Covid-19 patients through evolving treatment regimens and effective bed allocation
22 November 2021 - 19:21
byAndries Mahlangu
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Netcare, SA’s third-largest private hospital operator by market value, has reinstated a dividend after managing to further reduce the length of stay for Covid-19 patients through what it said was evolving treatment regimens and effective bed allocation.
While there was a substantial increase in Covid-19 admissions during the third wave, only 52% of beds were allocated to Covid-19 patients at the peak, down from 60% in the second wave and 80% in the first wave, Netcare said in a results statement on Monday.
The group declared a dividend of 34c per share in the year to end-September, after none was declared a year ago due to uncertainty over the pandemic.
Private hospital operator Netcare has resumed dividend payments with a final payout of 34c per share for its 2021 financial year as the group's operations have recovered from the initial impact of Covid-19. Alishia Seckam caught up with Netcare CEO Richard Friedland for more insight on the health of the firm's balance sheet as SA eyes a possible fourth Covid-19 wave.
The share rose as much as 4.47% before pulling back to trade 1.60% higher at R15.90 by midday.
The pandemic has hit SA’s private hospitals hard, with many patients deferring elective surgeries.
Netcare said the outlook for its 2022 financial year depended on the evolution of the pandemic.
“The possibility of further waves of Covid-19 still exists. In the absence of new highly transmissible and virulent variants of the virus, we expect a reduction in severity of such potential waves,” it said in a statement.
Its adjusted headline earnings per share surged 107.4% to 67.4c during the review period. Normalised earnings before interest, taxes, depreciation and amortisation (ebitda) was up 24.8%, with ebitda margin improving to 15.2% from 13.6%.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Netcare issues dividend on jump in full-year profit
SA’s third-largest private hospital operator by market value managed to further cut the length of stay for Covid-19 patients through evolving treatment regimens and effective bed allocation
Netcare, SA’s third-largest private hospital operator by market value, has reinstated a dividend after managing to further reduce the length of stay for Covid-19 patients through what it said was evolving treatment regimens and effective bed allocation.
While there was a substantial increase in Covid-19 admissions during the third wave, only 52% of beds were allocated to Covid-19 patients at the peak, down from 60% in the second wave and 80% in the first wave, Netcare said in a results statement on Monday.
The group declared a dividend of 34c per share in the year to end-September, after none was declared a year ago due to uncertainty over the pandemic.
Private hospital operator Netcare has resumed dividend payments with a final payout of 34c per share for its 2021 financial year as the group's operations have recovered from the initial impact of Covid-19. Alishia Seckam caught up with Netcare CEO Richard Friedland for more insight on the health of the firm's balance sheet as SA eyes a possible fourth Covid-19 wave.
The share rose as much as 4.47% before pulling back to trade 1.60% higher at R15.90 by midday.
The pandemic has hit SA’s private hospitals hard, with many patients deferring elective surgeries.
Netcare said the outlook for its 2022 financial year depended on the evolution of the pandemic.
“The possibility of further waves of Covid-19 still exists. In the absence of new highly transmissible and virulent variants of the virus, we expect a reduction in severity of such potential waves,” it said in a statement.
Its adjusted headline earnings per share surged 107.4% to 67.4c during the review period. Normalised earnings before interest, taxes, depreciation and amortisation (ebitda) was up 24.8%, with ebitda margin improving to 15.2% from 13.6%.
mahlangua@businesslive.co.za
Mediclinic: for the patient punter
Private sector steps in with mass sites to boost vaccine rollout
Netcare reports partial recovery as it eyes third-wave threat
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Related Articles
Netcare says profit is steadily improving despite the third wave
Hospital group Netcare looking healthy
Netcare cuts Lesotho operations on termination of deal
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.